The value of the entire crypto market fell by 4.65% in the last day alone. Many analysts link the decline in Bitcoin and the crypto market to the Iranian attack on Israel.
Many leveraged traders were forced to close out their leveraged positions, which explains the sharp price movements. Despite the price drops, the Bitcoin crossing is approaching, and there is nothing that can stop it. In a few days, on April 19th (approximately), the fourth bitcoin crossing event will occur, where the amount of coins added to circulation is cut in half, from 6.25 new bitcoin coins in each block, to 3.125. The event is considered a significant milestone in the history of the young currency, and symbolizes 16 years of its existence. The official rate of the Iranian Rial is also at a low, and this month crossed 2.5 billion Rials per currency, when in practice, the rate on the free market is more than 4 billion Rial per currency.