Cryptocurrency prices saw a sharp decline on Sunday morning after the US launched attacks on three Iranian nuclear facilities,
Among the 20 largest cryptocurrencies by market cap, Ethereum saw the biggest decline, falling 7.4% to $2,260,
According to CoinGlass, the market saw liquidations of over $701 million, most of which, $618.69 million, were long positions,
According to CoinGecko, the total crypto market cap fell to $3.25 trillion, down 4.4% since the start of the day,
Ethereum’s liquidations reached $296 million in the past 24 hours, of which $269 million were long positions, while Bitcoin’s Liquidations reached $152 million,
Cardano was also affected with a 7.1% decline, Bitcoin price remained relatively stable and closed at $102,418 with a 1.4% decrease,
Users on the decentralized prediction market called Myred predicted a bearish outlook for Ethereum, where more than 70% of users believed that the price of Ethereum would fall below $2,000 by the end of the year,
US President Donald Trump said on Truth Social that the US had carried out “very successful” attacks on three Iranian nuclear facilities, including Fordow, Natanz and Isfahan,
Fordow was attacked by B-2 bombers while Tomahawk missiles were fired from submarines at Natanz and Isfahan,
The attacks are a major step in the ongoing tension between Israel and Iran and Israel has confirmed US cooperation,
Trump warned that if Iran will respond with “the strongest possible force” if it retaliates against the US,
Iranian Foreign Minister Abbas Araqchi announced that “all options” were reserved to defend the country’s sovereignty and warned of “permanent consequences.”
Polymarket forecasts have put the chances of Iran closing the Strait of Hormuz before July at 46 percent, up from 9 percent the previous day, while the chances have risen to 57 percent by the end of the year.
However, the chances of the US declaring war on Iran before July are slim, at just 2 percent.
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