While the search for safe havens in global markets increased following Israel's airstrikes on nuclear facilities in Iran, the cryptocurrency market also witnessed sharp fluctuations. Altcoins such as Solana (SOL) and Cardano (ADA), which have low liquidity compared to Bitcoin, were among the assets that lost the most value in this process. Bitcoin (BTC), the largest asset in the cryptocurrency market, is trading sideways at $105,600 at the time of writing, despite falling by as much as 3%. “The crypto market is reacting negatively to the news of Israel’s attack on Iran, in line with other risk assets. Technically, support is expected at $101,000, but geopolitical developments will determine price action in the short term,” said Caroline Mauron, co-founder of Orbit Markets. Following the developments, investors turned to safe havens such as government bonds, while stocks fell, oil prices rose more than 9% and gold gained value. “While Bitcoin is sometimes traded as a macroeconomic hedge, in high-risk moments like military conflict, investors prioritize liquidity over narrative. Positions are closed to generate cash, dollars are diverted, and leverage is reduced in volatile assets,” said Sean McNulty, head of derivatives Asia-Pacific at FalconX Ltd. IG analyst Tony Sycamore said there was likely to be a “further deterioration in risk appetite” heading into the weekend. *This is not investment advice.