Israel's recent air strike on Iran has significantly escalated tensions in the Middle East. This geopolitical development has triggered a notable drop in the prices of Bitcoin and other cryptocurrencies. On Friday morning, Singapore time, Bitcoin's price experienced a sharp decline of 3%, dipping below US$103,000, before the fall began to moderate. Concurrently, Ethereum's market value also suffered a substantial drop, erasing approximately 7.6% of its value at one point.