In a sudden escalation of the Middle East conflict, Iran has carried out a major attack by sending a swarm of drones into Israel.

This action has significantly increased international tensions. The attack, which is regarded worldwide as a serious escalation of the conflict, has had immediate consequences for financial markets.

Crypto prices are plummeting

Shortly after the attack was announced, cryptocurrency prices dropped dramatically. Bitcoin, the leading cryptocurrency, saw an abrupt decline to a multi-week low, indicating a massive sell-off caused by mounting geopolitical unrest. Other major cryptocurrencies such as Ethereum, XRP and Solana followed the same trend, with double-digit losses within hours.

Huge liquidations

This sudden fall of the crypto market has led to a wave of liquidations. Nearly 300,000 traders were affected, with an estimated $900 million in positions liquidated in a day, according to data from CoinGlass. This underlines the vulnerability of the crypto markets to external shocks and how quickly sentiment can change in the face of international incidents.

The situation continues to evolve and the international community is closely monitoring events as the impact of this attack continues to be assessed at both political and economic levels.

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