$BTC

Crypto Market Crash Amid Geopolitical Tensions and Options Expiry

The crypto market experienced a significant crash, driven by geopolitical tensions following Israel's preemptive strike on Iran, macroeconomic factors, and a $3.7 billion options expiry. Bitcoin dropped to an intraday low of $102K, with Ethereum and XRP also falling 10% and 7% respectively. The U.S. distanced itself from the Israeli action, while oil prices surged amid fears of conflict. President Trump's renewed tariff plans added to market uncertainty, exacerbating volatility.

Over $1.2 billion in crypto positions were liquidated, predominantly long positions, leading to substantial losses for traders. Bitcoin's key support levels were breached, prompting whales to liquidate holdings. Ethereum and XRP also faced bearish trends, with significant drops in their respective prices, indicating a challenging environment for investors amidst heightened market fluctuations.