13.06.2025 19:46

Geopolitical instability, fueled by Israel's military action against Iran, triggered a dramatic surge in cryptocurrency liquidations on centralized exchanges (CEXs). Over a 24-hour period, a staggering $1.16 billion in assets were liquidated, highlighting the market's sensitivity to global events. This significant downturn underscores the interconnectedness of global finance and the cryptocurrency market.

Binance and Bybit, two leading cryptocurrency exchanges, bore the brunt of these liquidations, jointly accounting for more than 71% of the total. Binance alone witnessed $458 million in liquidations, representing a substantial 39.48% share, while Bybit followed closely with $376 million, or 32.41%. Their dominant role underscores their significant influence and the scale of trading activity conducted on their platforms.

Other prominent exchanges also experienced substantial liquidations. OKX reported $129 million (11.12%), Gate.io $128 million (11.03%), HTX $51.9 million (4.47%), and CoinEx $12.4 million (1.07%). These figures collectively demonstrate the widespread impact of the geopolitical events on the entire CEX landscape.

Bitcoin (BTC) suffered the most significant losses, with $448 million worth of positions liquidated. Ethereum (ETH) followed, experiencing $304 million in liquidations. Other notable cryptocurrencies like Solana (SOL), Dogecoin (DOGE), and Ripple (XRP) also faced considerable losses, with liquidations reaching $52.6 million, $26.1 million, and $23 million respectively, reflecting a broader market downturn across various assets. At the time of writing, Bitcoin's price had dropped by 2.85 percent over the past 24 hours, trading at $104,756, further illustrating the market's volatility. Ethereum also experienced a notable price decrease, although the exact figure was not provided in the original source. The overall trend points to a significant market correction spurred by geopolitical uncertainty.