On June 13, 2025, the cryptocurrency market experienced a sharp sell-off following escalating tensions between Israel and Iran. Reports confirmed Israeli airstrikes on Iranian nuclear facilities, raising concerns in global markets, and cryptocurrencies were not spared from this shock. This geopolitical shock led to the liquidation of over $1.14 billion in leveraged cryptocurrency positions within hours. Among alternative currencies, Ethereum (ETH) and Cardano (ADA) suffered some of the most severe losses.

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