The cryptocurrency market has experienced a significant downturn, with an estimated $240 billion wiped out, primarily due to escalating tensions between Israel and Iran. This geopolitical instability has led to a widespread "risk-off" sentiment among investors, prompting a sell-off in riskier assets like cryptocurrencies. Bitcoin, along with major altcoins such as Ethereum, Solana, and Dogecoin, has seen substantial declines, exacerbated by whale sell-offs and widespread liquidations of leveraged positions. The uncertainty surrounding potential U.S. involvement in the conflict further contributes to market volatility.$BTC