Impact of Iranian Offensive on Israel: Cryptocurrency Market Reacts by Losing $430 Billion in 48 Hours
Sunday, 14 April 2024, 10:40
Cryptocurrency Market Crash: A $430 Billion Loss
The recent crash in the cryptocurrency market resulted in a staggering $430 billion decline in capitalization, triggered by geopolitical tensions.
Immediate Liquidations and Impact
Traders were hit hard, with over $2 billion liquidated in just 48 hours, predominantly affecting Bitcoin with losses exceeding $500 million.
Leading Liquidation Events and Impact
- Long liquidations dominated the market, with a total of $771.15 million in long positions liquidated.
- Bitcoin suffered the biggest hit, acting as a key indicator for finance markets during the crisis.
Market Reactions and Predictions
The market volatility and fear led to a surge in gold-backed cryptocurrencies, with investors seeking safe havens like gold amid escalating tensions.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.