The cryptocurrency markets witnessed a wave of collective declines on the morning of Friday, June 13, 2025, affected by the dangerous geopolitical escalation in the Middle East, following airstrikes carried out by Israel on targets in Iran, which raised concerns in global markets.

Noticeable decline for Bitcoin and cryptocurrencies

Bitcoin, the largest cryptocurrency by market capitalization, dropped by about 3.40% to reach $104,227 by 9:00 AM Abu Dhabi time, down from its previous levels that exceeded $108,000.

Despite this decline, Bitcoin recorded slight weekly gains of approximately 1.43%, while daily trading volumes increased to $67.19 billion over the past 24 hours. The total market capitalization of the currency has decreased to $2.06 trillion.

Alternative cryptocurrencies record sharp losses

Similar to Bitcoin, other cryptocurrencies declined more sharply: Ethereum (ETH) fell by 9.55% to record $2,500.

Binance Coin (BNB) dropped by 2.93% to reach $646.

Cardano (ADA) plummeted by 8.61% to $0.6311.

Ripple (XRP) decreased by 5.36% to $2.1241.

Dogecoin (DOGE) lost about 8.83% of its value to reach $0.1739.