Israel launches a surprise attack on Iran! The crypto market is in turmoil, ETH plummets amid a wave of liquidations, is there a once-in-a-lifetime rebound opportunity after the crash?
In the early hours of Friday, the world held its breath! Israel's sudden military strike against Iran ignited panic in the market, and the crypto market instantly entered sell-off mode! ETH became the hardest hit, with Binance's platform briefly losing the $2,600 support level, triggering a chain reaction of liquidations. In just a few hours, long leveraged positions in the $2,650 to $2,430 range were ruthlessly liquidated, and nearly all heavily leveraged long positions around $2,800 were wiped out, with high leverage funds accumulated later evaporating in an instant!
BTC also faced severe losses, with Binance's financing rate fluctuating sharply, briefly turning negative, reaching the most extreme level since June 8. Market sentiment rapidly shifted to an overly bearish outlook, and short positions in derivatives surged. Is this fear? Or an opportunity?
Veteran on-chain analysis platform CryptoQuant stated: Extremely negative financing rates have historically often been a precursor to significant market rebounds! The large liquidation of ETH has released excess leverage, significantly clearing risks, and accumulating momentum for a rebound! If geopolitical tensions ease, BTC and ETH may usher in a desperate counterattack to escape from dire straits. In this razor-thin market, are you still on the sidelines? Opportunities are always born in panic!
