Crypto market hit by $1b in liquidations as US strikes Iran

Roughly 240,000 traders were liquidated in the past 24 hours as the crypto market reeled from news that U.S. bombers attacked Iran’s main nuclear sites, according to Coinglass.

Total liquidations topped $1.03 billion by midday on Sunday in New York, highlighting the scale of the market shakeout.

With traditional markets closed for the weekend, crypto was the first to react to the geopolitical shock.

By Sunday morning in New York, Bitcoin (BTC) had dropped as much as 4% to just above $99,300, while Ethereum fell 9% to $2,185—its lowest intraday level since May 9.

See the Bitcoin chat below.

The crypto market plunged after President Donald Trump announced late Saturday that U.S. forces bombed three Iranian nuclear facilities in “Operation Midnight Hammer.”

Bitcoin dropped to its lowest level since early May. Ethereum plummeted more than 10% to $2,171, but at last check had inched up 1.2% to $2,205.5.

Altcoins like XRP, Solana, and Dogecoin also hit two-month lows. Liquidations surged to $949 million in 24 hours, mostly from long positions.

Prediction markets like Myriad show growing bearish sentiment, with 65% of users expecting Bitcoin to fall below $95,000 before reaching a new high.