After U.S. Strikes Iran’s Nuclear Sites, $595 Million in Bullish Crypto Bets Get Liquidated

Crypto Suffers $595M Long Liquidation Amid U.S. Strikes on Iran’s Nuclear Facilities

A surprise U.S. airstrike on Iran’s nuclear sites sent shockwaves through crypto markets, triggering a sharp selloff that wiped out bullish bets across major digital assets like Bitcoin and Ethereum.

On Friday, crypto markets tumbled as news broke that the U.S. military had carried out strikes on Iran’s key nuclear facilities. The operation, announced by former President Donald Trump, targeted significant uranium enrichment sites at Fordow, Natanz, and Isfahan. The geopolitical upheaval rattled investors globally, leading to steep losses in digital asset prices over the weekend.

In the past 24 hours, 172,853 traders were liquidated, with total losses reaching $681.8 million. A staggering 87% of those losses came from long positions. Ethereum traders faced the deepest losses, totaling $282 million in liquidations, while Bitcoin accounted for $151 million. Other leading cryptocurrencies, including SOL, XRP, and DOGE, collectively saw over $22 million in liquidations.

Liquidations occur when exchanges forcibly close leveraged positions because traders fail to maintain required margins, often following significant price drops. Such waves of forced selling frequently signal heightened market stress and can sometimes precede sharp price reversals if sentiment has swung too far.

Despite the intense volatility, prices managed to steady somewhat after the initial drop. Bitcoin was last seen hovering near $102,000, while Ethereum held slightly above $2,280, both lower on the day but avoiding further collapse.

Roughly two-thirds of the liquidations took place on Bybit and Binance. With the U.S. hinting at the possibility of even larger strikes, traders remain braced for additional turbulence in the crypto markets.