Crypto Liquidations Surge Amidst Geopolitical Tensions and Fed Inflation Report

The cryptocurrency market experienced a substantial downturn today, driven by escalating geopolitical tensions between Israel and Iran. As the situation escalated with Israel’s recent air strike on Iranian nuclear facilities on June 13th, investor anxiety surged. Simultaneously, the U.S. Federal Reserve’s inflation report fueled concerns about potential interest rate hikes, further dampening market sentiment. This volatile combination resulted in over $1.14 billion worth of crypto liquidations across various exchanges.