Crypto Traders Lose $681.8 Million Following U.S. Airstrikes on Iran
On Friday, the U.S. military conducted airstrikes on Iran’s nuclear sites, causing a significant selloff in crypto markets and leading to $595 million in long-position liquidations.
- The strikes targeted Fordow, Natanz, and Isfahan, key uranium enrichment facilities.
- Total liquidations reached $681.8 million, with 87% from long positions.
- Ether (ETH) saw $282 million in liquidations, while Bitcoin (BTC) experienced $151 million.
- Other cryptocurrencies like SOL, XRP, and DOGE also faced losses exceeding $22 million.
- Liquidation occurs when exchanges close leveraged positions due to insufficient margin.
- Bitcoin stabilized near $102,000 and Ethereum above $2,280 after initial declines.
- Bybit and Binance were responsible for two-thirds of the liquidations.
- Ongoing U.S. threats of further strikes may lead to increased market volatility.