The recent Israel air strike has triggered a significant downturn in the cryptocurrency market, leading to major liquidations:
❇️The crypto market saw over $1.1 billion in liquidations following Israel's military strike on Iran.
❇️Bitcoin dropped 4%, slipping below $103,000, while altcoins fell 5-8%.
❇️Ethereum declined 9%, hitting $2,500, while Solana and Binance Coin also saw steep losses.
❇️The sell-off resulted in $962.40 million in liquidations, predominantly affecting bullish traders.
❇️The DeFi sector witnessed liquidations exceeding $120 million, marking the highest point of liquidations this year.
❇️Friday and Saturday saw the heaviest liquidations in six months, totaling $1.5 billion.
The market reaction reflects heightened geopolitical tensions, with investors shifting to a risk-off sentiment. Some analysts suggest this could present a "buy the dip" opportunity, while others warn of continued volatility depending on further escalation.
