Crypto traders lost over 1 billion dollars due to the conflict between Israel and Iran. Geopolitical tension triggered a sell-off in the market, Bitcoin dropped below 103 thousand dollars but then rose to 104.7 thousand. Most of the top 100 cryptocurrencies lost value, especially large meme coins.
In one day, positions worth over 1 billion dollars were liquidated, mainly among holders of long positions in BTC and ETH. A position in Bitcoin worth $201.31 million was closed on Binance. Liquidations occur when a trader's collateral does not cover losses from leverage. $XRP