Recent global events have significantly impacted the cryptocurrency market, causing sharp price fluctuations.
Market Gains and Losses
Iran launched a missile attack on a US base in Qatar, negatively affecting all financial markets, including the cryptocurrency market. Initially, BTC and altcoins fell, but then they showed some recovery throughout the day.
Bitcoin and Altcoins Response
Once it became clear that the Iranian attack was largely symbolic, the cryptocurrency market began to rise. The price of Bitcoin, which hit the $100,000 mark, has recovered and is currently trading around $104,000. Altcoins have shown proportionally stronger recoveries, with Ethereum reaching $2,400 and Solana leading with an approximate increase of 10%.
Liquidation Levels in the Market
In the last 24 hours, the cryptocurrency market saw significant liquidations totaling $389 million. The majority, $281 million, was recorded from short positions. Notably, liquidations in Ethereum surpassed those in Bitcoin: $122 million compared to $121 million.
Thus, short-term geopolitical events have noticeably influenced the cryptocurrency market, leading to both price drops and recoveries. There is an interesting dynamic of liquidations in both Bitcoin and altcoins.
