Crypto Bloodbath: Over $1 Billion Liquidated As Iran-Israel Tensions Erupt
Crypto markets experienced a significant sell-off following reports of an Israeli airstrike on Iran, with Bitcoin dropping 5% to below $104,000. Altcoins suffered greater losses, ranging from 6% to 9%, leading to over $1 billion in liquidations, primarily from long positions. The S&P 500 futures fell 1.9%, while oil prices surged over 12% to around $77 per barrel, and gold rose past $3,400 an ounce as investors sought safe assets. Arthur Hayes, former BitMEX CEO, cautioned traders about potential volatility, linking risks to US tariffs. Ethereum decreased by 8% to $2,505, nearing a critical support level. Analysts noted oil prices have increased about 30% since May, and gold's rise indicates investor unease. Short-term market views are mixed, with some anticipating a rebound while others warn of further selling depending on upcoming US CPI data. Continued volatility is expected amid rising interest rates and geopolitical tensions, with Bitcoin potentially dipping to $95,000 if selling persists.
