In the past 24 hours, the cryptocurrency market has faced significant liquidations amid news of bombings on Iranian nuclear sites. According to Coinglass, liquidations exceeded $1 billion.
Scale of Liquidations in the Crypto Market
According to Coinglass, the number of liquidations over the past day reached around 240,000 traders, highlighting the scale of market turmoil. The total amount of liquidations hit $1.03 billion by midday on Sunday in New York.
Reaction of Major Cryptocurrencies
By Sunday morning in New York, Bitcoin had dropped by 4%, falling just above $99,300, while Ethereum fell by 9% to $2,185 — its lowest intraday level since May 9. Cryptocurrencies like XRP, Solana, and Dogecoin also hit two-month lows.
Future of the Crypto Market and Predictions
Prediction markets like Myriad show growing bearish sentiment, with 65% of users expecting Bitcoin to fall below $95,000 before reaching a new all-time high.
The situation in the cryptocurrency market remains tense in response to geopolitical events. Experts and traders are closely monitoring further developments and potential price changes.
