Why is the crypto market crashing?
- Market sentiment sours; conflict in the Middle East escalates, with reports suggesting Iran says it will respond “harshly” against Israel.
- Asian equities and cryptocurrency markets traded in the red on Friday as geopolitical risk intensified.
- CoinGlass data shows that over $1.15 billion in leveraged positions were liquidated across crypto markets in the past 24 hours.
Rising geopolitical tensions in the Middle East have triggered a sharp decline in risk assets, with cryptocurrency markets facing significant losses. The Kobesissi Letter reports suggesting Iran says it will respond “harshly” against Israel. These rising tensions have brought a gloomy market mood for investors, triggering the liquidation of over $1.15…
