Cryptocurrency markets came under heavy pressure today, wiping out more than $100 billion in total market capitalization as Bitcoin and most major altcoins recorded steep losses.
The sharp decline triggered widespread panic across derivatives markets, where liquidations surged past the $1 billion mark within 24 hours.
Bitcoin Slides Below $73K Amid Rising Market Pressure
Bitcoin experienced a significant selloff after reports emerged that the United States had resumed military strikes on Iran, followed by an immediate response from Tehran.
The leading cryptocurrency dropped more than 3.5% on the day, shedding over $2,000 in value and briefly falling below the $73,000 level before recovering slightly.
Market analysts largely attribute the decline to escalating geopolitical tensions, which pushed investors away from risk sensitive assets such as cryptocurrencies.
At the same time, traders are also paying attention to a major transaction that took place shortly before today’s downturn. Earlier this week, an entity reportedly sold 29 million shares of BlackRock’s IBIT spot Bitcoin ETF in a block trade worth approximately $1.3 billion.
The transaction marked the largest single day sale in the history of the ETF and occurred just ahead of the market decline, adding to speculation and uncertainty among investors.
Despite the turmoil in crypto markets, traditional financial markets remained relatively stable. The S&P 500 traded mostly flat, suggesting that Wall Street has not reacted strongly to the latest developments involving the US and Iran.
Oil prices initially climbed following the geopolitical headlines but later pulled back as the trading session progressed.
Stellar Defies the Selloff With a Massive Rally
While most cryptocurrencies traded deep in the red, Stellar emerged as one of the few standout performers in the market.
XLM surged roughly 19% over the past 24 hours, sharply outperforming the broader crypto market and breaking away from the prevailing bearish trend.
Meanwhile, major altcoins such as BNB, XRP, Ethereum, Dogecoin, Litecoin, and Avalanche posted losses ranging between 3% and 4%, largely mirroring Bitcoin’s decline.
Other cryptocurrencies, including TRX, HYPE, and TAO, suffered even steeper drops exceeding 6%.
Another token showing strength was RAIN, which gained around 9% and extended the upward momentum it began building during the previous trading session.
Overall, the broader altcoin market remained overwhelmingly negative as investor sentiment weakened amid geopolitical uncertainty and growing volatility across digital assets.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic
