The cryptocurrency market is facing sharp losses, with major currencies experiencing widespread sell-offs.
Bitcoin, Ethereum, and other digital asset prices have significantly decreased over the past 24 hours. This market decline coincides with escalating geopolitical tensions in the Middle East.
Investors appear to be retreating from riskier assets amid increasing uncertainty. This shift has led to liquidations and panic selling across trading platforms.
●▪︎ Geopolitical tensions ignite a selling wave in the cryptocurrency market
On June 13, Israel launched airstrikes on Iranian nuclear and military facilities, raising concerns of a wider regional escalation. The situation was further complicated when American officials clarified that they were not part of the strike but pledged to defend Israel if necessary.
This has led to a risky reaction in global markets. Traders exited volatile assets like cryptocurrencies, shifting their funds to traditional safe havens like gold and the US dollar.
Secretary of State Marco Rubio stated that protecting American forces is a top priority, emphasizing that the administration is closely monitoring threats. Market participants responded quickly, resulting in a sharp decline in major cryptocurrency prices.
Within 24 hours, the cryptocurrency market recorded liquidations exceeding $1.14 billion, according to Wise Advice on social media. These forced sales followed rapid declines in token values, particularly in high-leverage positions.
Activity on the supply chain revealed that a 'whale' wallet deposited 1000 Bitcoin, worth over $106 million, on the Binance platform. As reported by 'The Data Nerd', this wallet originally acquired Bitcoin at an average of $18,665, indicating a profit-taking move amid market panic.
