13.06.2025 20:00
Following Israeli airstrikes targeting Iranian nuclear and missile facilities, global risk assets experienced a significant downturn, with cryptocurrency markets bearing the brunt of the sell-off. While Bitcoin demonstrated relative resilience, other cryptocurrencies suffered substantial losses, highlighting the sector's sensitivity to geopolitical instability. The attack, reportedly aimed at high-ranking Iranian military figures, followed accusations by the International Atomic Energy Agency of Iranian uranium enrichment violations, escalating existing regional tensions. Iran's subsequent retaliatory drone attacks further fueled market anxieties. Although the United States denied any involvement, the escalating conflict created a palpable sense of uncertainty.
The impact reverberated across diverse asset classes. Traditional safe havens like gold saw a substantial increase, rising 1.3% and nearing an all-time high of $3,445 per ounce, reflecting investor risk aversion. Conversely, major stock indices experienced significant declines; the Nikkei index in Japan fell 0.89%, the Euro Stoxx 50 dropped 1.37%, and U.S. futures contracts showed broadly lower values, with the E-mini Nasdaq-100 falling 1.42%. Oil prices initially surged, with Brent crude experiencing a more than 14% increase before settling, further indicating a flight to safety. Silver also mirrored gold's upward trend. Within the cryptocurrency market, Bitcoin (BTC) experienced a more modest 2.9% decline, trading around $102,664. However, Ethereum (ETH) fared considerably worse, plummeting 8.81% to $2,523.
Despite earlier optimism surrounding the Solana ETF, fuelled by a reported SEC request for an updated S-1 filing and a Bloomberg prediction of a 90% approval probability by year's end, the geopolitical turmoil quickly overshadowed these positive developments. The Solana ETF lost approximately 10% of its value, according to Wintermute OTC trader Jake Ostrovskis, who nevertheless suggested that the market's apparent underexposure to Solana and related assets might present future investment opportunities after the volatility subsides. This viewpoint underscores the potential for longer-term growth despite the immediate negative impact of the geopolitical crisis.
The escalating tensions also triggered a notable decrease in liquidity within the derivatives market. Total open interest (OI) in the derivatives market dropped significantly, falling from $55 billion to $49.3 billion, demonstrating a contraction in market activity and investor confidence amid the heightened uncertainty. This reduction in open interest highlights the substantial market impact caused by the escalating conflict between Israel and Iran and underlines the sensitivity of financial markets to geopolitical risk.
