On June 13, 2025, the crypto market experienced a sharp sell-off due to escalating tensions between Israel and Iran. Israeli airstrikes on Iranian nuclear facilities triggered widespread concerns in global markets.
Overview of the Crypto Market Situation
The escalation of conflict led to the liquidation of over $1.14 billion in leveraged crypto positions within hours. Among altcoins, Ethereum (ETH) and Cardano (ADA) suffered the most significant losses.
Current Price Dynamics of Ethereum
Currently, Ethereum is trading near $2,500. The important support level lies around $2,400, which aligns with its 50-day moving average. If ETH holds this support, it may bounce back to the higher end of its trading range.
Situation with Cardano
Cardano has fallen below key support at $0.64 and is now eyeing the $0.58 level. This creates a risk of further price declines if the overall state of the crypto market remains weak.
In conclusion, the current tensions between Israel and Iran have significantly impacted the crypto market, and it remains to be seen how Ethereum and Cardano will perform moving forward.
