Cryptocurrency prices recorded sharp declines over the last 24 hours. Bitcoin, Ethereum, Solana, and Cardano saw steep losses. Traders point to escalating US-Iran tensions and possible retaliation as major causes.

Crypto Market Crash Triggers $1.1 Billion in Liquidations

The market capitalization of all cryptocurrencies around the world has lost almost 5 percent within 24 hours. That equates to nearly $1.1 billion in liquidations on the largest exchanges, based on data on CoinMarketCap.

Within the past 24 hours, Bitcoin’s price has declined in value by 4 percent to the current trading at 99,000 dollars as of the time of writing. This is the first time in over a month that BTC has dropped below the $100,000 level. Ethereum dropped 9.37% over the same period but is still holding above $2,100.

Solana, XRP, Cardano, and Dogecoin all experienced losses of more than 7%.The same was the case with Pi Network and Shiba Inu. The global market cap is now at US$3.05 trillion with moderate trading volume.

Michael Saylor, the CEO of MicroStrategy, ascertained that they intend to buy additional Bitcoin, despite the fall of the market.

Nothing Stops This Orange pic.twitter.com/NwtiXWl4MT

— Michael Saylor (@saylor) June 22, 2025

US-Iran Conflict Pressures Market Sentiment

Geopolitical tensions acted as a major stimulus to the crash in the crypto market. Attacks by the United States using airstrikes on Iranian nuclear facilities led to unrest globally. President Donald Trump was the one who gave the order.

After the strikes, Iran has made a threat, which means the country can attack the US territory. With the stress, Bitcoin lost grip of the important psychological price of $101,000. The uncertainty weighed on all major cryptocurrencies.

Further escalation came when Iran’s parliament voted to shut down the Strait of Hormuz. This shipping route processes nearly 20% of the global oil supply. Analysts said this action added stress to traditional markets, which spilled over into crypto.

Fed’s Rate Decision and Futures Liquidations Add Pressure

The US Federal Reserve decided to hold interest rates steady last week. Fed Chair Jerome Powell blamed trade tariffs for maintaining current rates. This decision disappointed investors hoping for a rate cut.

Amid macroeconomic pressure, crypto future traders had more than $1.1 billion worth of forced liquidation. Such liquidations have been due to the decline of prices below major support areas in various asset classes.

Another factor indicated by market analysts was that of a low-volume weekend set-up. This established fragile situations of massive selling off when bad news was announced. This, along with the technical pattern,s caused immediate drops in major tokens.

Market Outlook and Trading Activity

As price goes up and down, some institutional players do not seem to be intimidated. The fact that MicroStrategy is piling more and more Bitcoin implies that there is still more interest in the asset. Nonetheless, lesser altcoins may still be subjected to selling pressure because of the declining liquidity.

The level of trading is moderate, demonstrating slight growth of 24 hours volumes in derivatives markets. However, caution exists among the retail investors through spot markets.

The crypto market players will most probably be keen observers of geopolitical news. Further deterioration beyond the US and Iran has a potential of additional volatility. Economic policy statements and macro data will also play a role in determining near-term price action.