13.06.2025 01:59
Following reports confirming a preemptive Israeli strike on Tehran and a subsequent declaration of emergency, the cryptocurrency market experienced a dramatic downturn. This rapid escalation of the conflict triggered widespread liquidations, resulting in approximately $1 billion in losses over the past 24 hours, with the majority occurring within the final hour alone. The overall crypto market capitalization plummeted by 8%.
Bitcoin, specifically, experienced a sharp decline, falling from $108,000 to $103,500 during this period. However, altcoins suffered even more significant losses. The impact was particularly severe on Pi Network, which witnessed a dramatic 16% drop within a single hour following the initial reports of the Israeli strike. Solana and Cardano also experienced notable declines, each falling by 5%.
This market volatility follows earlier predictions from BeInCrypto, which highlighted the potential for significant market disruption due to fear, uncertainty, and doubt (FUD) stemming from any escalation in the Iran-Israel conflict. This concern was echoed by JP Morgan, who previously warned that an all-out war between the two nations could dramatically inflate oil prices and nearly double US inflation, pushing it to 5%. This prediction came alongside reports of sharp declines in US stock market futures and widespread sirens in Israel, following confirmed explosions in Tehran.
The subsequent trajectory of the crypto market hinges significantly on tomorrow's stock market reaction and the further unfolding of this evolving geopolitical situation. The situation remains fluid, and further updates are expected.
Readers are urged to independently verify information and seek professional advice before making any investment decisions based on this report. This news article is committed to unbiased, transparent reporting, in accordance with established journalistic best practices. Please review our updated Terms and Conditions, Privacy Policy, and Disclaimers for further information. Information sourced from internet sources.
