$200 million liquidated from the cryptocurrency market in just one hour

$200 million was liquidated from the cryptocurrency market in just one hour, due to a decline in the prices of major cryptocurrencies, as geopolitical tensions escalated between Israel and Iran.

The #Bitcoin dropped to nearly $103,000, after a decline of about 2%, while the #Ethereum dropped by more than 3% to fall to $2,424, and the $XRP

XRP

2.1353

-1.51%

fell by 1.89% to reach $2.12.

The escalation of geopolitical tensions resulting from the Israeli-Iranian conflict led to a state of uncertainty in the market and panic selling.

Excessive leveraged positions, especially in Ethereum, exacerbated the losses during the past period

$BTC $ETH