Cryptocurrency markets experienced significant turbulence following U.S. military action, with Bitcoin breaking below the key $100,000 psychological level.
Bitcoin plummeted to a low of $99,627, ending its 40-day streak above the $100,000 threshold. This steep decline reduced Bitcoin’s market capitalization to approximately $1.98 trillion. The sell-off extended broadly across the digital asset space.
Major altcoins, including Ethereum and Solana, suffered notable losses. Ethereum fell steeply to just above $2,200, while Solana dipped below $129. The total cryptocurrency market capitalization declined by roughly 5%, dropping to a total value of approximately $3.04 trillion.
The sharp price movements triggered over $1 billion worth of leveraged derivatives positions liquidated within a 24-hour period, adding to the market stress.
This cryptocurrency volatility coincided with upheaval in traditional markets. Oil prices surged past $91 per barrel, gold prices advanced, and the U.S. dollar strengthened as investors sought refuge in perceived safe-haven assets following U.S. airstrikes on Iranian nuclear sites.
Market sentiment is described as fragile. Analysts warn that Bitcoin could test lower technical support levels near $95,000 or even $92,000 should geopolitical tensions continue to escalate and exacerbate risk aversion.