Following Israel's attack on Iran, there was a general decline in the cryptocurrency markets along with rising tensions in the Middle East.

According to Coingecko data, Bitcoin (BTC) has decreased by 3.6% in the last 24 hours, dropping to $104,074. In addition to Bitcoin, many altcoins also experienced a loss in value. Ethereum (ETH) decreased by 9.5% to $2,057, XRP decreased by 6.5% to $2.11, and Solana (SOL) lost 9.6% of its value, dropping to $143.98.

Sharp declines have also been observed in meme coins. The leading meme coins in the market, Dogecoin (DOGE) decreased by 9.2% to $0.1734, Shiba Inu (SHIB) decreased by 9% to $0.00001168, and Pepe (PEPE) lost 15.3% of its value, dropping to $0.00001062.

According to CoinMarketCap data, the total value of the crypto market has decreased by 4.14% in the last 24 hours, falling to $3.25 trillion.

Liquidations Have Reached 1 Billion Dollars

With the sharp decline in the market, over $1 billion in crypto positions were liquidated. According to Coinglass data, a total of $1.16 billion in positions were liquidated in the last 24 hours; of this, $1.04 billion was from long positions.

The most liquidated positions were in Bitcoin and Ethereum longs. Positions worth $446.38 million were liquidated in Bitcoin and $303.39 million in Ethereum.

Bitcoin long position liquidation reached $422.97 million, while Ethereum long position liquidation was recorded at $247.05 million.

Will the Decline in Bitcoin Continue?

While the sharp decline in Bitcoin's price draws attention after Israel's attack on Iran, an increase in gold and oil prices was observed. Investors are curious whether this drop in Bitcoin's price will continue.

Famous crypto investor Anthony Pompliano stated in a post on X (formerly Twitter) that while gold and oil prices are rising, the price of Bitcoin is falling, but this trend may change soon. Pompliano reminded that Bitcoin reacted similarly after Iran's attack on Israel last October, saying, 'It will be exciting to follow what will happen during this process.'

Uncertainty continues in the crypto market as geopolitical risks escalate.

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