Iran Launches Drone Attack On Israel In Escalation Of Tensions, Bitcoin Drops Sharply In Response

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

According to CNN, Israeli Defense Forces spokesperson Daniel Hagari confirmed the drone attack, which is expected to "take a number of hours" to reach Israel.

The Associated Press additionally reported that Israel aviation authorities had announced the closure of Israel's airspace to all flights as it prepared for Iran's attack. Similarly, Iraq's transportation minister, Raqqa Saadawi, declared that the country's airspace was also closed. 

According to the newswire, Israel has been on "heightened alert" after an airstrike last week killed two Iranian generals in Syria. Iran accused Israel of being behind the strike and promised to retaliate. An anonymous U.S. official told the Associated Press that Iran had launched "dozens" of drones. 

Speaking to reporters Saturday evening, Hagari said that the Israeli military is "prepared and ready" to defend against the drone attack and respond accordingly. The White House also said that it would offer support to Israel in the country's defense against Iran's attack, although it did not specify details. 

In a statement, National Security Council spokesperson 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 BTC/USD and those of other cryptocurrencies fell sharply. As of writing, the apex crypto's price dropped down to $62,493, according to Benzinga Pro. 

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