Crypto Market Liquidations Top $701M as U.S. Strikes Hit Iran's Nuclear Facilities
The crypto market experienced significant losses, with over $600 million in long positions liquidated following U.S. attacks on Iranian nuclear facilities. Total liquidations reached $701 million, primarily affecting long positions. The market capitalization of cryptocurrencies fell to $3.25 trillion, a 4.4% decrease. Ethereum saw liquidations of $296 million, while Bitcoin accounted for $152 million. Ethereum dropped 7.4% to $2,260, and Cardano fell 7.1%. Bitcoin decreased by 1.4% to $102,418. Prediction markets indicated a bearish outlook for Ethereum, with over 70% expecting its price to fall below $2,000 by year-end. President Trump announced successful U.S. strikes on Iranian nuclear sites, escalating tensions between the U.S. and Iran. Iran's foreign minister warned of severe consequences, while prediction markets raised the odds of Iran closing the Strait of Hormuz significantly. Odds of the U.S. declaring war on Iran remained low at 2%.
