Ethereum, Solana, Dogecoin Lead Crypto Losses As Iran Retaliates With Drone Barrage After Israel Air Strikes

Ethereum (ETH), Solana (SOL) and Dogecoin (DOGE) took the heaviest hits after Israel’s air strikes on Iran’s nuclear and ballistic missile sites rattled markets.

The crypto market slumped 4% overall after Israel’s attacks prompted Iran to launch drone strikes in retaliation. Supreme Leader Ayatollah Ali said Israel would ”pay a very heavy price.”

Crypto Fear And Greed Index Slides 10 Points As Bitcoin Tumbles

Solana led losers among the top 10 cryptos with an 8.4% plunge, followed by Ethereum (7.7%), and Dogecoin (7.6%). Bitcoin tumbled 2.4% to trade at $105,046 as of 4:10 a.m. EST after slumping to an intraday low of $102,822.03 amid escalating Middle East tensions.

The Crypto Fear and Greed Index, a gauge of sentiment in the crypto market, plummeted 10 points in the past 24 hours. The slide shows investors slashing their exposure to risk-on assets.

24-Hour Crypto Liquidations Top $1.1 Billion After Israel Strike

Crypto long positions were hit hard, with total liquidations reaching $1.16 billion during the past 24 hours, according to data from Coinglass. Long trades accounted for the majority of these positions, with around $1.04 billion liquidated from traders who had bet on rising prices. 

BTC and ETH traders suffered the most after Bitcoin and Ethereum liquidations reached $46.38 million and $303.50 million, respectively.