The cryptocurrency market has been hit by a wave of selling over the past 24 hours, triggered by rising geopolitical tensions and a flurry of liquidations. The sharp decline was fueled by U.S. airstrikes on Iranian nuclear facilities on June 22, ordered by President Donald Trump. The military action escalated fears of a wider Middle East conflict, sending global markets into “risk-off” mode as investors rushed into safer assets like gold and the U.S. dollar.
More than $636 million in leveraged crypto positions were liquidated amid the panic, intensifying the downward pressure on prices.
Also Read: Bitcoin Price Slips Below $102K as Trump Confirms Iran Strikes
Bitcoin, Ethereum, XRP Lead Declines — What’s Next?
Bitcoin (BTC) plunged to as low as $100,000 before staging a partial recovery. However, sentiment remains fragile, with traders eyeing the $100K level as critical support. Should it fail, further downside could follow.
Ethereum (ETH) slumped over 10% to around $2,196, while XRP (XRP) dropped nearly 9% to $1.97. Other major altcoins such as Solana (SOL), Cardano (ADA), and Dogecoin (DOGE) also recorded significant losses of 7% to 15%.
With tensions still high, analysts caution that the crypto market is currently more sensitive to geopolitical events than technical signals. The Crypto Fear & Greed Index stands at 40 (Neutral), but could swing toward “Fear” if the crisis escalates. Until the geopolitical landscape stabilizes, traders should brace for continued volatility.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses
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