The crypto market rallied but then pulled back, with the RWA sector leading losses with a 4.18% drop

Crypto Markets Slide as Middle East Tensions Flare Again

Crypto markets gave back early gains and turned broadly lower, weighed down by renewed conflict in the Middle East. According to SoSoValue, the RWA sector led the declines, falling 4.18% over the past 24 hours. Pendle (PENDLE) dropped 5.94%, and Ondo Finance (ONDO) slid 5.64%.

Bitcoin (BTC) fell 0.95%, slipping below $71,000. Ethereum (ETH) dropped 2.72%, pulling back to just above $2,100.

Other sectors also posted losses. CeFi fell 2.11%, though Bitget Token (BGB) gained 1.83%. Layer1 dropped 2.21%, but NEAR Protocol (NEAR) held up relatively well, rising 1.93%. Meme coins slid 2.29%, while MemeCore (M) bucked the trend with a 4.35% gain. DeFi fell 2.61%, with Maple Finance (SYRUP) spiking 8.18% intraday. PayFi dropped 2.80%, though Safe (SAFE) rose 4.02%. Layer2 led the declines, falling 3.49% as Optimism (OP) dropped 5.51%.

Sector indices told a similar story. The ssiNFT index fell 4.31%, ssiLayer1 dropped 3.64%, and ssiDePIN slid 3.48%.