NewsletterCrypto Market Slides As Trump Flips on Iran-Israel Peace Talks
Highlights
- The crypto market experienced $363 million in liquidations, with $263 million in long positions.
- As Trump signals potential US involvement in the Iran-Israel war, investors brace for further market volatility.
- The FOMC meeting, Fed rate decisions, and the S&P 500, will influence the next market move.
The crypto market has seen some selling pressure in the past hour as US President Donald Trump says that he has “not reached out to Iran for Peace Talks in any way, shape, or form”. As the Israel-Iran war escalates further, discussions of Trump mediating a ceasefire gathered steam earlier today. However, Trump referred to them as “HIGHLY FABRICATED” and “FAKE NEWS”. This was enough to send jitters across the global market.
Crypto Market Liquidations Soar $355 Million
As Trump flips the game on Iran-Israel peace talks, the crypto market selling pressure has triggered around $355 million in liquidations in the last 24 hours. Coinglass data shows that $239 million in long positions have been affected while $115 million in short positions have also been liquidated.
CoinMarketCap data also shows that the market is down almost 2%, with the crypto market cap dropping to $3.28 trillion. The Bitcoin price is down almost 2%, trading just above the $105,000 level.
Altcoins have been facing an even steeper fall, with Ethereum (ETH) down 2.5%, slipping closer to the $2,500 support levels. Similarly, Solana (SOL), Dogecoin (DOGE), and Cardano (ADA) are all down by more than 3% today, while Hyperliquid has tanked 8% from the HYPE all-time high yesterday.
Crypto market investors would be closely watching for the US market to open on Tuesday, as the S&P 500 flirts around all-time highs. Additionally, the FOMC meeting and Fed decision on rate cuts will also weigh on future market action.
Iran-Israel Peace Talks Off The Table
A few years ago, reports suggested that Trump was making the “last ditch efforts” for a peace deal between Iran and Israel. However, in his latest post on Truth Social, President Trump poured cold water on any such efforts, calling the previous reports FAKE NEWS. He wrote:
“I have not reached out to Iran for “Peace Talks” in any way, shape, or form. This is just more HIGHLY FABRICATED, FAKE NEWS! If they want to talk, they know how to reach me. They should have taken the deal that was on the table – Would have saved a lot of lives!!!”
With Donald Trump asking to evacuate Tehran, there have been reports that America could also likely join the war with Israel against Iran. In case of such development, the crypto market might see more volatility ahead.
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Expert Predicts Further Downside For Bitcoin As Fear and Greed Index Drops To 10
- Solana and XRP ETFs Attract Fresh Inflows Even as Crypto Market Falls
- BLS to Release Jobs Report on Nov. 20 as Uncertainty Over Fed Rate Cut Persists
- JPMorgan calls Bitcoin Price Bottom, Predicts It Will Challenge Gold Next Year
- Zcash to Surpass XRP? Arthur Hayes Makes Bold Claim Amid ZEC’s 45% Rally
- What’s Next for Chainlink Price After 53.87 Million Tokens Accumulated
- What the New Bitcoin Model Predicts About a Possible $200K BTC Price Target?
- Zcash Price Soars 45%: Here’s Why
- Bitcoin Price Pattern Points to a Crash to $62k as Fed Cut Odds Fall to 54%
- Zcash Price Defies Market Crash: Will Shrinking Exchange Netflows Keep ZEC Rallying?
- XRP, DOGE & ADA Price Outlook: How Low Can These Altcoins Drop Next?
