Catenaa, Tuesday, June 24, 2025-The global Crypto market reeled Sunday after US air and missile strikes hit three nuclear facilities in Iran, triggering over $700 million in liquidations and sharp price drops across major digital assets.
Although on Monday President Trump announced a ceasefire, the ground reality is still unclear.
The escalation sent shockwaves through crypto exchanges, wiping 4.4% off the market’s total value in 24 hours.
According to CoinGlass, more than $701 million in leveraged crypto positions were liquidated, with $618.7 million of that from long bets.
Ethereum bore the brunt, losing 7.4% to trade at $2,260, while long ETH positions accounted for $269 million of the liquidations.
Bitcoin remained more stable, slipping 1.4% to $102,418, with $125 million in long positions wiped out.
President Donald Trump announced on Truth Social that US forces had conducted “very successful” strikes on Iranian nuclear sites at Fordo, Natanz and Isfahan.
B-2 bombers and submarine-launched Tomahawk missiles were deployed in the operation, coordinated with Israel, according to US defense officials. Trump warned of overwhelming retaliation should Iran respond.
Iran’s Foreign Minister Abbas Araghchi vowed “everlasting consequences,” saying Tehran would defend its sovereignty by any means necessary.
In response, geopolitical prediction markets recorded a spike in bets that Iran will close the Strait of Hormuz before year-end, now at 57%, up from 31% the day prior.
On Myriad, over 70% of users now expect Ethereum to close 2025 under $2,000. Still, odds of a formal US declaration of war on Iran remain low at just 2%, according to Polymarket forecasts.
