Crypto prices continued to crater Sunday morning, with Bitcoin dropping below $100,000 mark, Ethereum plunging 10% on the day, and assets like Solana, XRP, and Dogecoin falling to multi-month lows.
The downward shifts came after the United States entered the conflict between Israel and Iran, with President Donald Trump announcing late Saturday that U.S. forces bombed three Iranian nuclear facilities in an attack dubbed Operation Midnight Hammer.
The move threatens to further inflame tensions in the Middle East, following recent back-and-forth attacks between Israel and Iran. Much like those attacks, the salvo from the United States is impacting financial markets as well.
Bitcoin is currently down more than 3% on the day at a price of $99,843. That’s the lowest price marked for the leading cryptocurrency since early May, per data from CoinGecko.
Ethereum has taken a much harder hit on the day, falling more than 10% to a current price of $2,171. Like Bitcoin, it’s the lowest mark seen for ETH since early May, paring back some of the sizable gains that the coin put up last month.
Major altcoins like XRP, Solana, and Dogecoin haven’t fallen as hard as ETH on the day, but their historical impact is more pronounced, with all three showing low prices not seen in two months. XRP is currently priced at $1.95, while Solana comes in at $127 and Dogecoin is at $0.147.
Liquidations have only accelerated across the crypto market, with CoinGlass showing $949 million worth of “rekt” positions over the last 24 hours. Ethereum is leading the way there with about $369 million worth, followed by Bitcoin at $242 million.
The vast majority of the liquidations are longs—or bets that an asset’s price will go up—at $849 million worth.
Users of prediction market Myriad have become increasingly bearish on Bitcoin’s price prospects amid the chaos. Asked whether BTC is more likely to jump to $115,000 (a new all-time high) next or plunge below $95,000, users give the latter option a nearly 65% chance as of this writing.
Just Friday morning, Myriad users were banking on the $115,000 move.
(Disclosure: Myriad is a product of Decrypt’s parent company, DASTAN.)
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