U.S. Bombing of Iran Nuclear Sites Triggers $595 Million in Bullish Crypto Liquidations

U.S. Strikes on Iran’s Nuclear Sites Spark $595M Crypto Liquidation Spree

A surprise U.S. airstrike on Iran’s nuclear facilities unleashed a rapid crypto market selloff, wiping out bullish bets on Ethereum, Bitcoin, and other major tokens.

Crypto traders were left reeling on Friday after the U.S. military launched strikes against Iran’s key nuclear infrastructure, prompting panic selling and $595 million in liquidations of long positions.

The airstrikes, announced by former President Donald Trump, targeted three significant Iranian uranium enrichment sites: Fordow, Natanz, and Isfahan. The geopolitical shockwave rattled global markets and sent crypto prices sharply lower over the weekend.

In the past 24 hours, 172,853 traders were liquidated, with total losses surging to $681.8 million — nearly 87% of that from long positions. Ethereum traders bore the brunt of the turmoil, with $282 million in liquidations, while Bitcoin positions accounted for $151 million in losses. Other major tokens like SOL, XRP, and DOGE also suffered significant blows, collectively losing more than $22 million.

Liquidation occurs when an exchange forcibly closes a trader’s leveraged position because their margin falls below required levels. Such liquidation cascades often mark periods of extreme volatility and can sometimes hint at looming price reversals if market sentiment has swung too far in one direction.

Although crypto prices plunged initially, they managed to stabilize somewhat. Bitcoin hovered around $102,000, and Ethereum traded above $2,280 — both lower on the day but avoiding a deeper meltdown.

Bybit and Binance handled roughly two-thirds of the total liquidations. As the U.S. warns of potentially “far greater” strikes, traders are bracing for additional volatility in the days ahead.