$BTC Bitcoin price plummeted below $103,000, more than $1 billion in long positions were liquidated as investors fled for safe havens amid escalating geopolitical tensions.

On Friday morning, June 13, global financial markets were "shaken" by news that Israel had launched a large-scale military campaign, codenamed "Operation Rising Lion", targeting multiple targets in Iran. The sudden drop was followed by a series of other altcoins falling. Ether (ETH), the second largest coin, recorded an even deeper decline, at one point losing more than 9% of its value, falling to the $2,500 region. Other coins such as Solana (SOL), XRP, and Cardano (ADA) were not spared the same fate, with drops ranging from 5% to 10%.