U.S. military strikes targeting Iranian nuclear facilities have triggered significant declines across cryptocurrency markets, with Bitcoin falling below the critical $100,000 threshold and Ethereum experiencing double-digit losses. Bitcoin traded at approximately $99,843, marking its lowest level since early May, while Ethereum plunged over 10% to around $2,171.
The downturn extended to major altcoins including Solana, XRP, and Dogecoin, which all reached multi-month lows amid broad market retreat. This sell-off occurred against a backdrop of heightened geopolitical uncertainty following the military action.
Market analytics platform CoinGlass reported nearly $949 million in liquidated positions over the past 24 hours, with long positions accounting for $849 million of the total. This indicates forced exits by investors who had bet on price appreciation.
Investor sentiment has shifted decisively bearish, with market indicators now assigning a 65% probability that Bitcoin will fall below $95,000. This contrasts sharply with recent optimism that had anticipated a potential breakout toward $115,000.
The reaction underscores cryptocurrencies’ heightened sensitivity to geopolitical events and their deepening integration with global macroeconomic and political dynamics.