The United States’ strikes on nuclear facilities in Iran brought another wave of bears to the crypto market.
By Wahid Pessarlay
Editor Kirsten Thijssen
Updated
2 mins read
Three major nuclear sites, Fordo, Natanz, and Isfahan, in Iran faced bombing attacks from the US early on June 22. The US claims the facilities have been “obliterated.”
According to a Sunday AP News report, the 13,500 kilogram bombs, called the GBU-57, were released from a B-2 stealth bomber plane and can penetrate 18 meters into the ground.
The impact of the bombs and the exact damage haven’t been officially confirmed yet.
— Donald J. Trump (@realDonaldTrump) June 21, 2025
Data from the market prediction platform Polymarket indicates that there is still a 2% chance of the US officially declaring war against Iran. One of the trending polls, with a $2 million trading volume, suggests a 38% probability of a nuclear deal between the two countries.
The US bombardment comes as Iran and Israel have been striking missiles at each other since June 13.
Despite the US intelligence agencies claiming that Iran is not actively developing a nuclear bomb, US President Donald Trump and Israel’s Prime Minister Benjamin Netanyahu have been stressing Iran’s progress on having a weapon of mass destruction, according to AP News.
The latest bombing attack on Iran triggered another selloff within the crypto market. According to data from CoinMarketCap, the global crypto market capitalization decreased by nearly 2% in 24 hours to $3.14 trillion. The downward momentum pushed the market into the bearish zone as the CMC Fear and Greed Index dropped to a two-month low of 40.
Bitcoin (BTC) declined 1% to $102,400 while Ethereum (ETH) fell 7% to $2,260.
Moreover, the fears of a potential war between the US and Iran have also increased the chances of a recession in 2025, rising from 23% on June 12 to 30% at the time of reporting.
The uncertainty surrounding current macroeconomic conditions and speculation about increasing tension in the Middle East could trigger further volatility within the cryptocurrency market, especially among low-cap altcoins.
The US Federal Reserve’s decision to keep the interest rates unchanged could add to the market-wide correction, as the community has been eying lower borrowing rates.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Wahid has been analyzing and reporting on the latest trends in the decentralized ecosystem since 2019. He has over 4,000 articles to his name and his work has been featured on some of the leading outlets including Yahoo Finance, Investing.com, Cointelegraph, and Benzinga. Other than reporting, Wahid likes to connect the dots between DeFi and macro on his newsletter, On-chain Monk.
