$595M in Bullish Crypto Positions Wiped Out Amid U.S. Strikes on Iran Nuclear Facilities

Crypto markets got a brutal reality check as geopolitical tensions triggered a $595 million liquidation bloodbath. Here's how traders got caught with their leverage up.

When missiles fly, markets cry

The U.S. strike on Iranian nuclear sites sent shockwaves through risk assets—but crypto got hit hardest. Nearly $600 million in long positions evaporated faster than a shitcoin's market cap during a bear market.

Leverage giveth, and leverage taketh away

Futures traders learned the hard way that 100x leverage works both directions. The cascade of liquidations shows how crypto markets remain the canary in the coal mine for global risk appetite.

Bonus jab: At least the exchanges made bank on those sweet, sweet liquidation fees—some things never change in crypto's casino economy.