$BTC The recent airstrike by Israel has caused a significant drop in the cryptocurrency market, leading to large liquidations:

The cryptocurrency market saw over $1.1 billion in liquidations following Israel's military strike on Iran.

Bitcoin fell by 4%, dropping from $103,000, while altcoins declined between 5% and 8%.

Ethereum decreased by 9%, reaching $2,500, while Solana and Binance Coin also experienced sharp losses.

The sell-off resulted in $962.40 million in liquidations, predominantly affecting bullish traders.

The DeFi sector witnessed liquidations exceeding $120 million, marking the highest point of liquidations this year.

Friday and Saturday saw the heaviest liquidations in six months, totaling $1.5 billion.

The market reaction reflects increased geopolitical tensions, with investors shifting to a risk-averse sentiment. Some analysts suggest this could present a "buy the dip" opportunity, while others warn of continued volatility depending on further escalation.