Bitcoin and altcoins painted red: Billions of dollars wiped out overnight.

The crypto market experienced one of its most turbulent days in recent times following Israel's attack on Iran. Bitcoin fell to a level of 102,600 dollars during the night, while Ethereum dropped below 2,500 dollars.

According to QCP Capital, the decline in cryptocurrencies occurred as investors turned to assets they see as safe havens. In their assessment of the situation, the company stated, "Israel's airstrike created fluctuations in risky assets, bringing volatility back to global markets. Investors turned to assets considered safe havens, and this quickly pushed oil and gold prices higher." They also noted that despite the sharp wave of selling in stocks, Bitcoin remained relatively resilient, which is attributed to ongoing institutional demand.

A user's position worth 200 million dollars was liquidated on Binance

On the other hand, positions with a size of over 1.15 billion dollars in leveraged trades became liquidated. Among these positions that closed with losses, the most notable was a position worth 200 million dollars that occurred on the Binance exchange. This position, which was opened with the expectation that Bitcoin would rise, resulted in one of the largest losses seen in a single instance so far in 2025. It is unknown to which individual or organization the position belonged.

The latest data obtained from Coinglass shows that 250,000 investors closed leveraged positions with losses in the last 24 hours. The biggest hit was taken by investors who opened positions in the upward direction. These investors incurred losses on positions worth over 1 billion dollars in total.

The largest crypto asset by market capitalization, Bitcoin, is finding buyers at 104,600 dollars at the time this news was published. Ether, on the other hand, is hovering above 2,500 dollars.

Published: June 13, 2025 13:34