The cryptocurrency market plunged on Friday, June 13, as rising geopolitical tensions in the Middle East rattled investors. 

Following news that Israel had launched a major military operation against Iran, digital assets tumbled sharply. The total crypto market capitalization dropped 7% over the past 24 hours to $3.3 trillion.

Bitcoin (BTC) declined around 5%, trading at $103,464 as of press time. Ethereum (ETH) fell 10% to $2,471, while Solana (SOL) dropped 11% to $141. XRP (XRP) and BNB (BNB) also lost ground, down 6% and 4% respectively.

Data from CoinGlass shows that crypto liquidations surged 125% in a single day, reaching $1.2 billion. Open interest across crypto futures markets fell 9.7% to $142 billion,…