The crypto market tumbled sharply over the weekend, triggered by rising tensions in the Middle East. A U.S. airstrike on Iranian nuclear facilities and Iran’s swift retaliation sent risk assets reeling. As markets reacted, a fast and heavy crypto market crash followed, wiping out billions in value.
Bitcoin crashed through $100,000, falling to a session low of $99,764. The decline marked its first break below six figures in weeks, adding to a rough seven-day stretch. Bitcoin is now down more than 6% from last weekend.
The broader sentiment turned risk-off almost immediately after the headlines, and Bitcoin led the sell-off with high-leverage wipeouts across derivatives exchanges.
Ethereum was hit hard, dropping to $2,184, its lowest level in weeks. Over the last seven days, ETH has shed over 10% in value. Ethereum took a heavy hit as the selloff deepened. Its price dropped to $2,184, extending a steep weekly decline of over 14%.
The market cap currently values at $264.72 billion, and Ethereum’s 24-hour trading volume, currently valued at $29.12 billion, is a sharp jump in activity that reflects traders rushing to unwind positions.
Solana, which had shown relative strength earlier in the month, wasn’t spared either. The token fell over 15% in 24 hours, dropping to $128.95 by Sunday evening.
Trading volume surged past $5.24 billion, up more than 48% in a single day, a clear signal that investors were rapidly exiting.
The sudden reversal in Solana’s trend caught many off guard, especially after a strong stretch that had positioned it as one of the more stable large-cap performers.
Across the board, altcoins saw a deep red. BNB fell 5%, XRP slipped under $1.94, and Avalanche dropped below $16. In total, the market lost over $200 billion in valuation in just under 36 hours. The total crypto market cap for all cryptocurrencies combined now sits at $3.04 trillion, dropping 5%.
With traditional markets closed and crypto trading non-stop, it was the first asset class to price in the geopolitical shock. The Bitcoin crash, paired with Ethereum and Solana’s declines, signals that traders are bracing for more volatility if the situation escalates. All eyes now turn to global markets when they open Monday.
Also Read: Crypto Market Crash! Bitcoin nears 100K, ETH, XRP, SOL, DOGE Falling
