Bitcoin
Middle East Escalation Triggers Weekend Drop Across Crypto Markets
Digital asset valuations slipped as geopolitical tensions flared in the Middle East while traditional financial markets remained closed.
Cryptocurrency valuations fell over the weekend as regional conflict escalated in the Middle East. The total market capitalisation for digital assets dropped 4% to $2.76 trillion, absorbing the geopolitical shock while global equity, bond, and commodities markets were shut.
The decline followed reported missile and drone attacks by Yemen's Houthi forces targeting Riyadh, including sensitive sites and civilian infrastructure. Reuters photographed smoke near King Khalid International Airport, while the Saudi-led coalition stated it intercepted a missile over the capital. The group also claimed a strike on an Aramco facility in Yanbu.
In response, the US State Department issued alerts warning of potential airspace closures and rapid regional escalation. Separately, Donald Trump noted he was considering decisions regarding military actions against Iran, while reports highlighted meetings at Camp David to deliberate potential strike options in Yemen.
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