As tensions between Iran and Israel reached their peak, almost all risk assets, including Bitcoin, saw sudden and sharp declines.
Expectations that Iran will launch an attack on Israel have become frequently discussed in the Western media today, and then US President Joe Biden also made a statement. Biden responded to Iran's possible attack by saying “don't do it” and added that Iran is expected to attack Israel eventually.
Bitcoin, gold and US stocks showed a downward trend due to the impact of increasing geopolitical risks in the Middle East. Gold fell from its all-time highs, which it climbed during the day.
However, a downward trend was observed in all cryptocurrencies, led by Bitcoin. While Bitcoin dropped from around $71,000 to $65,000, it experienced a partial recovery at the time of writing and is trading at $67,230.
Compared to Bitcoin, the altcoin world was more deeply affected by the decline, with many altcoins recording double-digit losses.
Signs of recovery have also been observed in altcoins in the last hour. Ethereum is up about 1% in the last hour, while XRP is up 2.66%, BNB is up 1.15%, and Dogecoin is up 1.18%.
When the liquidation data is examined, it is observed that there has been a huge liquidation of exactly 843.67 million dollars from the total cryptocurrency market in the last 12 hours. $764 million of these were in long positions.
Bitcoin $158 million, Ethereum $119 million, Solana $43 million, XRP $19 million, Cardano $17 million, Dogecoin $16 million, Filecoin $16 million, Litecoin $16 million, Chainlink $11 million, Ethereum Classic $10 million , Polkadot saw a liquidation of $10 million.
*This is not investment advice.