Ethereum (ETH), Solana (SOL) and Dogecoin (DOGE) took the heaviest hits after Israel’s air strikes on Iran’s nuclear and ballistic missile sites rattled markets.
The crypto market slumped 4% overall after Israel’s attacks prompted Iran to launch drone strikes in retaliation. Supreme Leader Ayatollah Ali said Israel would ”pay a very heavy price.”
Solana led losers among the top 10 cryptos with an 8.4% plunge, followed by Ethereum (7.7%), and Dogecoin (7.6%). Bitcoin tumbled 2.4% to trade at $105,046 as of 4:10 a.m. EST after slumping to an intraday low of $102,822.03 amid escalating Middle East tensions.
The Crypto Fear and Greed Index, a gauge of sentiment in the crypto market, plummeted 10 points in the past 24 hours. The slide shows investors slashing their exposure to risk-on assets.

Crypto long positions were hit hard, with total liquidations reaching $1.16 billion during the past 24 hours, according to data from Coinglass. Long trades accounted for the majority of these positions, with around $1.04 billion liquidated from traders who had bet on rising prices.
BTC and ETH traders suffered the most after Bitcoin and Ethereum liquidations reached $46.38 million and $303.50 million, respectively.

Macro analyst Luke Gromen’s comments come amid an ongoing debate over whether Bitcoin or Ether is the more attractive long-term option for traditional investors. Macro analyst Luke Gromen says the fact that Bitcoin doesn’t natively earn yield isn’t a weakness; it’s what makes it a safer store of value.“If you’re earning a yield, you are taking a risk,” Gromen told Natalie Brunell on the Coin Stories podcast on Wednesday, responding to a question about critics who dismiss Bitcoin (BTC) because they prefer yield-earning assets.“Anyone who says that is showing their Western financial privilege,” he added.Read more

