Crypto Bloodbath: Over $1 Billion Liquidated As Iran-Israel Tensions Erupt

Christian Encila

4 weeks ago

2 mins read

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A sudden wave of selling hit crypto markets in the early hours of Friday, as reports of an Israeli airstrike on Iran set off fresh jitters. Bitcoin sank 5%, slipping under the $104,000 mark. Altcoins fared worse, with losses ranging from 6% to 9%. Based on reports from Coinglass, more than $1 billion was wiped out in liquidations, over $1 billion of which were long positions.

Rising Tensions Shake Global Markets

According to market watchers, the strike prompted a swift move into safe assets. S&P 500 futures tumbled 1.9%, while oil and gold jumped sharply. WTI crude climbed more than 12%, reaching about $77 per barrel. Gold surged past $3,400 an ounce as investors sought shelter.

Crypto Traders Feel The Heat

Arthur Hayes, the ex-CEO of BitMEX, warned of rough waters ahead. “Hold on to your butts out there, degens,” he wrote after the crash. He also pointed to US President Donald Trump’s planned tariffs as an added layer of risk. Ethereum slid 8% down to $2,505, right at a key support level. Other coins fell up to 10% in just a few hours.

BREAKING: S&P 500 futures extend losses to -1.9% following Israel’s attack on Iran. pic.twitter.com/QaLtjbcii6

— The Kobeissi Letter (@KobeissiLetter) June 13, 2025

Safe Havens Caught In The Crossfire

Based on reports, gold and oil didn’t hold back. Oil prices have climbed about 30% since May lows, analysts say. Anyone betting on lower inflation or early rate cuts may have to rethink things. Gold’s climb suggests that many feel uneasy about what comes next. Even so, some expect this spike to calm once tensions ease.

What Comes Next For Crypto

Short-term views remain mixed. Some traders see this as a knee-jerk reaction and expect a rebound once headlines fade. Others warn that the US CPI release later this week could add another twist. Inflation data could either fuel more selling or pave the way for relief if numbers come in cooler than expected.

BTC is currently trading at $104,786. Chart: TradingView

Volatility is back with a vengeance. Over the past weeks, markets were already on edge amid chatter of higher interest rates and global conflicts. Now, with the Middle East front in focus again, big swings may stay in place. Analysts even suggest Bitcoin could dip to $95,000 if selling continues to gather steam.

A $1 billion wave of liquidations isn’t small. At the same time, the speed of the move may leave some traders hoping for a quick bounce. Watching safe-haven assets, US economic data, and any new developments in the Iran-Israel tensions will be key in the hours and days ahead.

Featured image from Stratfor, chart from TradingView

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

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