The cryptocurrency market suffered heavy selling overnight Saturday amid an unprecedented Iranian drone and missile attack on Israel.

Bitcoin
was down some 8% late on Saturday evening as U.S. officials confirmed the attack was taking place. Digital coins were some of the only risk assets trading over the weekend and the fall was seen as an initial reaction to the escalation of Middle East tensions.

Bitcoin had been trading at around $70,000 on Saturday evening but plunged to below $62,000, according to data from the Bitstamp exchange. By Sunday morning it had rebounded to trade above $64,000. Other coins like ether also saw heavy selling, down by up to 10% in some cases.