The cryptocurrency market lost $430 billion in capitalization since April 12, amid an unprecedented Iranian offensive against Israel. Traders lost over $2 billion in liquidations, which mostly affected Bitcoin (BTC), by $500 million, in an immediate risk-off reaction.
Notably, the crash started a day before the Iranian airstrike against Israel dominated headlines worldwide. On April 13, Finbold reported a $150 billion crash with nearly $1 billion liquidated from cryptocurrency traders in 24 hours. At that time, there were no public confirmations of the later-known escalation of the war in Iran.
After that, the cryptocurrencies took another hit following the subsequent news on Saturday night, in a panic sell-off. On that note, TradingView‘s Total Crypto Market Cap Index registered a drop of $429.11 billion in the 48 hours before the attack, for 17% losses.
The index now registers a $2.258 trillion capitalization, partially recovered from the crash to $2.098 trillion amid
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