Crypto Markets Tank as U.S. Airstrikes on Iran’s Nuclear Sites Trigger $595M in Bullish Liquidations

A sudden U.S. airstrike on Iran’s nuclear facilities sparked a sharp crypto market downturn, erasing bullish positions across Ethereum, Bitcoin, and other major tokens.

Crypto bulls were caught off guard on Friday when the U.S. military launched strikes on key Iranian nuclear sites, unleashing a wave of selling pressure and leading to $595 million in long-position liquidations.

The strikes, announced by former President Donald Trump, targeted Fordow, Natanz, and Isfahan — three significant uranium enrichment facilities in Iran. The geopolitical shock reverberated through global markets and sent crypto prices plunging over the weekend.

In the past 24 hours, 172,853 traders have been liquidated, with total losses climbing to $681.8 million. Approximately 87% of those losses stemmed from long positions. Ethereum traders faced the steepest losses, with $282 million in liquidations, while Bitcoin-related liquidations reached $151 million. Other major altcoins, including SOL, XRP, and DOGE, also suffered significant hits, losing over $22 million combined.

Liquidation occurs when an exchange forcefully closes a trader’s leveraged position due to insufficient margin, often after a sharp price move against their position. These liquidation cascades can indicate extreme market conditions and sometimes precede price reversals as sentiment overshoots.

Prices briefly plunged during the turmoil but later found some stability. Bitcoin hovered near $102,000, while Ethereum traded slightly above $2,280, both registering intraday losses yet avoiding a deeper collapse.

Bybit and Binance were responsible for about two-thirds of all liquidations. With the U.S. signaling the possibility of “far greater” strikes, traders are bracing for heightened volatility in the days ahead.