🔴 Following U.S. airstrikes on Iran, the cryptocurrency market entered a new wave of selling pressure. Solana and Tron fell by more than 3%, while Bitcoin declined by around 1%.
🪙 Ethereum and XRP also dropped by approximately 2%, with nearly all major cryptocurrencies trading lower over the past 24 hours.
📉 The main driver behind the sell-off appears to be growing macroeconomic concerns. Brent crude oil surged above $95, while the yield on the 10-year U.S. Treasury climbed to 4.81%.
⚠️ Rising oil prices and concerns over potential disruptions to traffic through the Strait of Hormuz have also led traders to take the possibility of a Federal Reserve interest rate hike in September more seriously.
📊 The upcoming U.S. jobs report on Friday could determine the market's next direction. Strong employment data could further increase expectations for a rate hike and place additional pressure on risk assets, including cryptocurrencies.
@Novan_Crypto
