On June 22, 2025, U.S. President Donald Trump announced successful airstrikes on three nuclear sites in Iran — Fordow, Natanz, and Isfahan, calling the operation a 'remarkable military success.' Iran promised to retaliate, sharply escalating geopolitical tensions. This news caused chaos in the financial markets, particularly in the cryptocurrency sector.
Bitcoin ($BTC ) fell below $100,000, reaching $99,500, marking the first drop below the six-figure mark in a month. Ethereum ($ETH ) lost 9%, while Solana ($SOL ) declined by over 5%. Overall, the liquidation of cryptocurrency positions amounted to $636 million, affecting 166,000 traders. The market reacted by shifting to safe assets such as gold and bonds due to fears of escalation in the conflict.
Analysts link the drop to fears of Iran closing the Strait of Hormuz, which could trigger a spike in oil prices and global inflation. Despite a brief recovery of Bitcoin to $102,000, the risk of further decline remains. Developments in Iran may change the dynamics of the crypto market in the coming weeks.
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