The capitalization of the cryptocurrency market has fallen to a record $ 80 billion

Amid the escalating conflict between Israel and Iran, the cryptocurrency market has suffered significant losses. on June 17, Bitcoin BTC $104,339.93 Bitcoin -3.09% Market capitalization $2.07 trillion VOL. 24 hours $1.81 billion fell by 2%, losing more than $ 2,000 in just a few hours — from $ 108,780 to $ 106,421. Ethereum ETH $2,502.42 Bridged Ether (StarkGate) -5.65% Market capitalization $0.15 billion VOL. 24 hours $1.86 billion fell even more — by almost 4.8% to just over $ 2,500. Other leading altcoins dropped by 5−6%, resulting in a total market capitalization decline of $ 80 billion.

According to CoinGlass, more than $ 400 million in leveraged positions were liquidated at the same time. The main trigger was the news from the Middle East: a sharp escalation of the conflict between Israel and Iran and US President Donald Trump’s warning about the need for immediate evacuation from Tehran.

Trump left the G7 summit in Canada early, citing urgent circumstances. The White House confirmed that the president was returning to hold a meeting of the National Security Council due to the situation in the region. At the same time, the Chinese and Russian embassies in Israel urged their citizens to leave the country due to the deteriorating security situation.

Cryptocurrencies were particularly sensitive to this news, as even in a stable trading range, Bitcoin continues to react to global events. BTC has been above $ 100,000 since the beginning of May, but the unstable situation has only increased the risks for investors.

The current situation has once again demonstrated how much the digital asset market depends on global political processes and how instantly geopolitical tensions can affect the value of cryptocurrencies.