Crypto markets surge over 5%

Emirates 24/7 – Cryptocurrencies jumped more than 5% on Wednesday as investors assessed the fallout from escalating military tensions with Iran and potential U.S. intervention to secure shipping lanes in the Strait of Hormuz.

Bitcoin, the world’s largest cryptocurrency, rose 4.91% to $71,677 during intraday trading. Ethereum climbed 5.3% to $2,081, while other digital assets saw similar gains, with XRP advancing 4.94% to $1.42 and Dogecoin up 4.93% at $0.092. Solana outperformed with a 5.6% rally.

The surge comes amid heightened market volatility fueled by the regional conflict. While some investors have pivoted toward safe-haven assets, the broader crypto market continues to react sharply to geopolitical developments and shifting risk appetites.