Iran Launches Drone Attack on Israel Raising Tensions, Bitcoin Drops Sharply in Response

Iran launched drones toward Israel on Saturday in response to an airstrike on an Iranian embassy compound in Syria last week.

According to CNN, Israel Defense Forces spokesman Daniel Hagari confirmed the drone strike, which is expected to “take several hours” to reach Israel.

The Associated Press also reported that Israeli aviation authorities had announced the closure of Israeli airspace to all flights as they prepared for Iran’s attack. Similarly, Iraqi Transport Minister Raqqa Saadawi said the country’s airspace was also closed.

According to the newswire, Israel is on “heightened alert” after an airstrike last week killed two Iranian generals in Syria. Iran accused Israel of being behind the attack and vowed to retaliate. An unnamed American official told the Associated Press that Iran had launched “dozens” of drones.

Speaking to reporters on Saturday evening, Hagari said the Israeli army was “prepared and ready” to defend itself from the drone attack and respond accordingly. The White House also said it would offer support to Israel in defending the country against Iranian attack, but did not specify details.

In a statement, National Security Council spokeswoman Adrienne Watson said, “The United States will stand with the people of Israel and support their defense against these threats from Iran.”

Soon after Iran launched its attack on Israel, the price of Bitcoin Bitcoin/USD and those of other cryptocurrencies have decreased dramatically. As of this writing, the price of the Apex cryptocurrency has fallen to $62,493, according to Benzinga Pro.

Read Next: Oil Hits 6-Month High as Alleged Israeli Airstrike on Damascus Fuels Concerns Over Wider Middle East Conflict

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