- Digital currencies today: Bitcoin, Ethereum, and XRP continue their technical weakness amid rising tensions in the Middle East:

Cryptocurrencies continue to fall overall on Wednesday, after rebounding last week. This intense sell-off pushed the price of Bitcoin (BTC) to below $62,000, increasing the risk of a drop toward the next key support level at $60,000.

Ethereum (ETH) is trending downward, targeting the demand range at $1,700, while Ripple (XRP) remains under pressure, trading at about $1.08.

Crypto selling intensifies as sellers assess the conflict in the Middle East
Challenges continue to cast a shadow over the crypto market, with geopolitical tensions in the Middle East escalating. According to the Associated Press, Iran launched attacks on U.S. military bases in the Middle East on Wednesday in response to attacks the United States launched on several sites inside Iran. The United States also reimposed sanctions on Iranian oil sales, saying these developments came in response to Iranian attacks on ships in the Strait of Hormuz.

The new attacks have raised fears that war between the United States and Iran could resume. U.S. President Donald Trump has heightened these concerns, saying that the memorandum of understanding that paused the fighting has “expired.” However, Trump added that negotiations would be allowed to continue.

Oil prices rose amid the attacks and geopolitical turmoil. West Texas Intermediate (WTI) crude reached $74 on Wednesday, up from $67 the previous day.

WTI crude oil price chart
As tensions continue in the Middle East, sentiment in the crypto market has deteriorated. The Crypto Fear & Greed Index, at 20—which falls within the extreme fear range—shows a notable decline in appetite for high-risk assets.
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