Crypto Markets Plummet Amid Middle East Tensions: A $1.1 Billion Selloff

Cryptocurrency markets experienced a significant selloff this week, triggered by escalating tensions in the Middle East. Israel’s recent airstrikes on Iranian targets have intensified existing conflicts, leading to a global market downturn. Notably, Bitcoin and Ethereum declined by 6-8% as investors shifted funds towards traditionally safe assets like gold and oil. The resulting volatility left over $1.1 billion in cryptocurrency positions liquidated across major exchanges. Financial markets witnessed this trend, with traditional assets like oil experiencing a surge in price.