Over the last few hours, the wider crypto market has seen a triggered sell-off after the confirmation of a series of airstrikes on the nuclear sites in Iran. Soon after the confirmation of the attack fell to $100,945 before rebounding slightly.
In just a couple of hours, more than $35 billion vanished from the market capitalization of the wider crypto sector, highlighting a panic sentiment among traders and investors.
As of writing, the crypto market capitalization was $3.12 trillion, and the trading volume is $139.09 billion, with an increase of 26.02%.
Bitcoin Reacts to U.S. Strike on Iran
Soon after the news of an attack by the United States in Iran, nuclear sites dragged Bitcoin below $100k, and at one time, it was seen trading at $98,286.
Source: TradingView
Post initial drop saw a slight recovery momentum with price once again climbing above $100k, and traded highest at $102,852 in the past 24 hours.
Experts argued that the initial sell-off and panic situation in the market arose with rising geopolitical tension; as per the crypto liquidation heatmap by CoinGlass, total liquidation of Bitcoin in the past 12 hours is $34.57 million, including $2.18 million in long and $32.39 million in short.
It is worth noting that the largest liquidation order occurred on HTX in the BTC/USDT pair valued at $35.45 million.
Response of the crypto market to the U.S attack on Iran
Per the available reports, the U.S attacked three nuclear sites of Iran that escalated geopolitical tension at various levels, also the crypto market saw massive losses.
Source: CoinGlass
Cryptocurrencies such as XRP, Dogecoin, BNB, SUI, OKB, Filecoin, Flare, Pendle, Jito, Pepe, Bitget, and Worldcoin remain some of the most affected.
In the past 24 hours, 187,170 traders were liquidated, and the total liquidation comes in at $656.19 million. The reported liquidation in Ethereum was of $193.35 million, including $50.09 million in short and $143.26 million in long.
Solana reported liquidation of $27.68 million with $20.94 million in long and $6.74 million in short; XRP saw a liquidation of $21.60 million with $3.6 million in short and $17.93 million in long.
Liquidation in Dogecoin in the past 24 hours is $11.19 million with $7.86 million in long and $3.32 million in short; BNB’s liquidation is $286.67k in short in the past 24 hours and $1.17 million long.
The liquidation of the entire market in the past 24 hours has crossed the mark of $1 billion.
Which Exchanges Were Hit the Hardest?
Following the news of the attack, the crypto saw a sudden instability with the highest liquidation being reported from Bybit of $255.29 million around from this figure of which $206.02 million is from long positions.
Binance followed Bybit with $140.54 million in total liquidation intraday, the liquidation is 62% constituted of long; Gate(dot)io witnessed a $96.75 million in liquidation, including $77.56 million in long.
HTX stands at $81.67 million following a liquidation of $68.16 million in OKX, Bitfinex had a relatively small liquidation volume of $6.72 million, and CoinEx had $4.32 million of liquidation.
Primary effects on Oil and other markets after Iran was attacked
Following Israel’s attack on Iran on June 13, 2025, Brent Crude, the global benchmark, grew by 7%, briefly exceeding $75 per barrel, marking the highest surge since April. U.S West Texas Intermediate (WTI) also grew significantly, reaching around $72.98 per barrel.
Prices in the oil market have seen major fluctuations, with Brent reaching $79.04 on June 19, and when writing, it was $77.06; and WTI is $73.85.
Some stocks of airline companies like United Airlines, Delta Airline, American Airlines, and stock of Expedia fell by 3.5%. Also the Wall Street saw a decline, while Middle East markets like Qatar, Saudi Arabia, and Kuwait remained flat or slightly up on June 22, suggesting some investor optimism for a contained conflict.
