Crypto Traders Lose $1.15B in 24 Hours as BTC, ETH Price Crash

A massive crash in BTC price, followed by other altcoins like ETH, SOL, XRP, and others, has created shockwaves in the market, liquidating billions worth of assets. The geopolitical tension amid the Israel-Iran war and global macroeconomic events has resulted in crypto traders losing more than $1.15B in just 24 hours, and more is at risk. Let’s discuss.

BTC Price Crash to $103k and ETH’s 10% Drop Liquidated $1.1B

With Israel’s pre-emptive airstrike on Tehran, targeting Iran’s nuclear and missile capabilities, a state of emergency has been issued in the country. Iran is also preparing for retaliation, and the escalation of the war is affecting the global financial market. Panic formed among investors, resulting in a massive price crash in BTC, ETH, and other assets.

Amid this, Bitcoin price crashed to $103k and Ethereum plummeted to $2.4k due to investors’ risk sentiments getting active. CoinGlass data reveals that more than 247k crypto traders were liquidated in 24 hours, losing $1.15B.

Out of this, the largest single liquidation happened on the Binance exchange -BTCUSDT pair, losing $203.1M. Bybit and OKX come next. Besides, Bitcoin alone faced nearly $450M, longs accounting to $422M liquidation, Ethereum faced almost $400M, XRP lost $52M, and so on.

The U.S. CPI and PPI data also played a significant role, as they failed to increase the chance of a Fed rate cut this month.

Traders Shift to Gold With BTC-ETH Price Crash

The crypto market’s fear and greed index sits at 54 (below greed) and has plummeted due to the increased volatility of the assets. The global trading volume is nearly up 25%, dominated by the sellers, crashing the market cap to $3.27T. This reveals that investors’ confidence in digital assets has decreased and is moving towards traditional assets like gold.

The gold price is $3,445.40 at press time after a 1.2% surge today. Silver is also up 0.30% today, currently at $36.40, and oil prices spiked over 10% (Brent at $76.48 and WTI at $74.99 per barrel), and more.

Israel attacks Iran. Oil prices jump 5% while S&P futures fall 1.5%. In response, investors seeking a safe haven buy gold, sending its price up 0.85%. Meanwhile, investors dump Bitcoin, pushing its price down 2%. How can anyone consider Bitcoin to be a digital version of gold?

— Peter Schiff (@PeterSchiff) June 13, 2025

As the BTC and ETH price crash continues, investors have opted for a traditional safe-haven asset. This also challenges Bitcoin’s “digital” gold status.