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Crypto Market Plunges Amid $1B Liquidation After U.S. Strikes Iran
- Crypto markets plummeted with $1 billion in liquidations after U.S. airstrikes on Iranian nuclear facilities.
- Iran's threat to close the Strait of Hormuz led to market disruptions, expecting oil futures to rise due to escalating tensions.
- The GMCI30 index fell by 10%, while small-cap and AI-linked tokens dropped by 17% and 20% during the weekend.
- Over $1 billion in crypto positions were liquidated within 24 hours, triggering a cascade of liquidations across Bitcoin, Ethereum, and altcoins.
- Former President Trump confirmed the airstrikes and hinted at potential regime change in Iran, causing concerns in financial markets.
- Bitcoin prices plunged below $100,000, the first time in 45 days, with Ethereum also witnessing significant declines.
- Iran's parliament discussed closing the Strait of Hormuz, affecting oil futures, while trading firms remained active amidst volatility.
- Prediction markets turned bearish on crypto, speculating potential drops below $95,000 before a recovery.
- The Block's GMCI30 index dropped nearly 10%, with small-cap and AI-related tokens experiencing larger declines.
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