XRP News Today: Crypto Market Loses $35 Billion Amid Iran Airstrikes

In the past few hours, the broader cryptocurrency market experienced a significant sell-off following the confirmation of a series of airstrikes on nuclear sites in Iran. Bitcoin's price plummeted to $100,945 before slightly rebounding. The market capitalization of the wider crypto sector saw a loss of over $35 billion, indicating a widespread panic among traders and investors. As of the latest reports, the crypto market capitalization stands at $3.12 trillion.

Bitcoin's price dropped below $100,000 after news of the U.S. airstrikes on Iran's nuclear sites. At one point, it traded as low as $98,286. Following the initial drop, Bitcoin saw a slight recovery, climbing back above $100,000 and reaching a high of $102,852 within the past 24 hours. Experts attributed the initial sell-off and market panic to escalating geopolitical tensions. According to the crypto liquidation heatmap, total liquidation of Bitcoin in the past 12 hours amounted to $34.57 million, with $2.18 million in long positions and $32.39 million in short positions. The largest liquidation order occurred on HTX in the BTC/USDT pair, valued at $35.45 million.

The U.S. airstrikes on Iran's nuclear sites escalated geopolitical tensions, leading to significant losses in the crypto market. Cryptocurrencies such as XRP, Dogecoin, BNB, SUI, OKB, Filecoin, Flare, Pendle, Jito, Pepe, Bitget, and Worldcoin were among the most affected. In the past 24 hours, 187,170 traders were liquidated, totaling $656.19 million. Ethereum reported liquidations of $193.35 million, including $50.09 million in short positions and $143.26 million in long positions. Solana saw liquidations of $27.68 million, with $20.94 million in long positions and $6.74 million in short positions. XRP's liquidation amounted to $21.60 million, with $3.6 million in short positions and $17.93 million in long positions. Dogecoin's liquidation was $11.19 million, with $7.86 million in long positions and $3.32 million in short positions. BNB's liquidation was $286.67k in short positions and $1.17 million in long positions. The total liquidation across the entire market in the past 24 hours exceeded $1 billion.

Following the news of the airstrikes, the crypto market experienced sudden instability. Bybit reported the highest liquidation at $255.29 million, with $206.02 million from long positions. Binance followed with $140.54 million in total liquidation, 62% of which was from long positions. Gate.io witnessed $96.75 million in liquidation, including $77.56 million in long positions. HTX reported $81.67 million in liquidation, while OKX saw $68.16 million. Bitfinex had a relatively small liquidation volume of $6.72 million, and CoinEx reported $4.32 million in liquidation.

Following the airstrikes on Iran, the oil market saw significant fluctuations. Brent Crude, the global benchmark, grew by 7%, briefly exceeding $75 per barrel, marking the highest surge since April. U.S. West Texas Intermediate (WTI) also grew significantly, reaching around $72.98 per barrel. Prices in the oil market have continued to fluctuate, with Brent reaching $79.04 on June 19 and currently at $77.06. WTI is currently at $73.85. Some airline stocks, such as United Airlines, Delta Airline, and American Airlines, as well as Expedia, fell by 3.5%. The broader market saw a decline, while Middle East markets remained flat or slightly up, suggesting some investor optimism for a contained conflict.