Geopolitical events liquidated $550 million worth of crypto positions

Iran's missile attack on Israel last night also had a negative impact on crypto prices. A total of $550 million worth of positions were liquidated in futures. Long positions accounted for $480 million of these positions.

Tensions between Iran and Israel peaked again last night after months, and this situation seriously damaged the markets. The two countries last launched attacks against each other with drones in April. However, this time, things seem to have gotten even more serious. Iran's strike on Israel with more than 200 long-range missiles yesterday negatively affected cryptocurrencies, as well as US stock markets.

While Bitcoin fell below $61,000, losses were also significant in futures positions. The value of futures positions liquidated in the last 24 hours exceeded $550 million. Long positions accounted for $480 million of this figure.

Bitcoin liquidated $144 million and Ether liquidated $118 million.

The exchange with the most liquidation was Binance with $272 million. OKX came in second with $181 million.

Israeli Prime Minister Netanyahu said last night that Iran would pay a heavy price for its attack. The attack and Israel's statement that it would respond further increase the fear of a regional war.

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