The cryptocurrency market experienced significant losses, exceeding $1 billion in liquidations over the past 24 hours due to geopolitical tensions between Israel and Iran. The conflict triggered a volatile wave of trading activity across various exchanges, including Binance and Bybit, impacting more than 247,000 traders worldwide. Bitcoin, as a major cryptocurrency, saw a 3% price drop, while Ethereum and other altcoins experienced declines of about 5%-8%. The largest single liquidation on Binance was a $200 million Bitcoin long position. This event drained liquidity and resulted in asset prices declining across the board. Data from Coinglass indicates over $1.15 billion in liquidations occurred on Thursday, with leveraged positions being particularly affected. The recent events highlight the heightened sensitivity of cryptocurrency markets to external geopolitical conflicts, posing potential for regulatory scrutiny. Market resilience is now being tested as the conflict adds new layers of complexity and risk to market dynamics, similar to previous historical events with far-reaching financial and strategic consequences.