Tensions between Iran and the United States indeed have a very real impact on the crypto market. However, the effects are often "two-sided": they can cause prices to drop suddenly, but they can also strengthen the crypto narrative in the long term.

Here is an explanation of why the impact is not always straightforward:
1. Instant Reaction: Drop Due to Panic (Risk-Off)
Traditionally, when there is a threat of war or military attack, investors tend to be fearful and withdraw their money from assets considered high-risk (high-risk). Since crypto is still considered a high-risk asset (like tech stocks), prices usually plummet immediately.