Escalation of Middle East Conflict Sends Crypto Market Plummeting

On the night of June 21 to 22, the leading cryptocurrency fell below $101,000 following U.S. strikes on Iran’s nuclear facilities. As of this writing, the asset has recovered slightly to $102,700.

Ethereum dropped to $2,280, experiencing a loss of approximately 5% over the past day.

According to a post by President Donald Trump on TruthSocial, the United States conducted three attacks on sites at Fordow, Natanz, and Isfahan.

«Now is the time for peace! Thank you for your attention to this matter,» Trump wrote.

Several news outlets report that U.S. actions could lead to an escalation of conflict in the Middle East. Iran’s Foreign Ministry believes it is justified to respond to military aggression.

American stock markets have not yet reacted to the situation as they are currently closed for the weekend.

Almost all digital assets have moved into the «red zone.» Among the top 10 by market capitalization, Solana suffered the most with a 3.5% drop over the day, followed closely by DOGE with a decline of 3.7%.

According to data from Coinglass, the liquidation volume over the past 24 hours reached $682 million, primarily affecting long positions in Ethereum, which totaled $282 million.

«Right now, we are witnessing a capitulation of altcoins,» noted Michael van de Poppe, analyst and founder of MN Trading.

Bitcoin’s dominance index has risen to 62.5%, while Ethereum sits at 8.46%.

The total market capitalization plummeted by 3.4%, bringing it down to $3.27 trillion. The crypto Fear and Greed Index has dropped to 42 points.

It is worth noting that Santiment highlighted an increase in tension between bulls and bears, along with deteriorating market sentiment in the cryptocurrency sector.