Tensions are heating up between India and Pakistan, following the former’s recent missile attack on the latter. This development is significant considering how it could negatively impact the crypto market, as war brings about market uncertainty.
India Retaliates Against Pakistan With Missile Attacks
According to a CNN report, India has launched a military operation against Pakistan, striking “terrorist infrastructure” in both Pakistan and the country’s administered Kashmir. According to the Indian Ministry of Defense, these steps come in the wake of the barbaric Pahalgam terrorist attack, which killed 25 Indians and one Nepali citizen.
The statement also stated that the attacks were focused, measured, and non-escalatory in nature, as no Pakistani military bases were targeted. However, Pakistan claimed that the strikes killed three civilians and injured twelve others.
Pakistani military spokesperson Ahmed Sharif Chaudhry made it clear that they plan to retaliate, which will further escalate tensions. Pakistan’s prime minister also stated that they are responding to India’s attack. The country has allegedly already shot down two Indian jets in retaliation for strikes on its “territory.”
Meanwhile, in an X post, the Indian army stated that Pakistan has again violated the ceasefire agreement by firing artillery in Bhimber Gali in the Poonch-Rajauri area. The army remarked that they are responding appropriately in a “calibrated manner.”
This development could significantly impact the crypto market, possibly leading to a crash. Following the attacks, the Bitcoin price sharply dropped below $95,000.
Crypto analyst Crypto TA King noted how a full-blown war could harm the market. Analyst Crypto King also predicted this could be a red market week, unless the India-Pakistan attacks settle.
Meanwhile, US President Donald Trump commented on the attack, stating that he hopes it ends quickly. The missile strikes comes just a day after India made big concessions in Trump’s trade war, another external factors which continues to hinder a crypto market rally to new highs.
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Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across several topics and niches. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover, a traveler and a part-time degen.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
