Bitcoin fell below $102,000 late on 21 June as intensifying hostilities between Israel and Iran—including reports of an Israeli ground attack on Iran’s Fordow nuclear facility—triggered a broad sell-off across digital assets
Bitcoin fell below $102,000 late on 21 June as intensifying hostilities between Israel and Iran—including reports of an Israeli ground attack on Iran’s Fordow nuclear facility—triggered a broad sell-off across digital assets.
The world’s largest cryptocurrency has dropped about 6% since the confrontation escalated on 12 June, while Ethereum slid 8% to around $2,500. Roughly $200 billion has been wiped from the crypto market’s value over the period, according to market-data aggregators.
Heavy volatility forced the rapid unwinding of leveraged positions. Market trackers estimate that more than $500 million in crypto futures were liquidated in the 24 hours to 21 June, including about $370 million within a single hour, pushing more than 92,000 traders out of positions.
Trading volumes had surged 19% on 17 June but have since thinned as investors retreated to perceived havens such as gold and the U.S. dollar. Shares of exchange operator Coinbase Global and stable-coin issuer Circle swung sharply amid the turbulence.
President Donald Trump said the United States held “complete and total control” of Iranian airspace and signaled possible intervention, deepening market unease. Strategists warn that further military escalation or a hawkish Federal Reserve decision next week could keep pressure on risk assets, though Bitcoin has historically recovered after geopolitical shocks.
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