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🩸🤯 The cryptocurrency market faced significant upheaval after Iran's airstrike on Israel, resulting in sharp declines across the board.
#Bitcoin plunged to $60,660, while numerous altcoins saw substantial losses exceeding 30%. The derivative market bore the brunt, experiencing an astounding $870 million in losses.
The news of Iran's airstrike worsened the ongoing market decline that commenced on Friday, triggering a rapid and considerable sell-off. #BTC's retreat to $60,660 was accompanied by double-digit drops in many altcoins, with losses ranging from 20% to 30% within minutes.
Ethereum slipped below $3,000, and XRP, hitting $0.43, fell to levels not seen in a year. Among the top 100 cryptocurrencies, ORDI experienced the most significant loss of 30%, followed by EOS and AAVE, both down 24%.
According to Coinglass data, over 230,000 leveraged positions were liquidated at a loss in the past 24 hours, totaling more than $870 million in losses.
Conversely, PAXG, a token pegged to the price of one ounce of gold, surged dramatically, surpassing $3,000. This surge occurred as the price of an ounce of gold closed at $2,344 on Friday.
