🚨 Crypto Bloodbath: Ethereum Plummets 11%, Bitcoin Crashes to $103K as Israel-Iran Conflict Roils Markets (June 13)

Markets got punched in the gut today as geopolitical tensions triggered a crypto sell-off. Here''s the damage:

Ethereum takes a nosedive
The second-largest cryptocurrency got wrecked—down double digits as traders fled to (relative) safety. Smart contract platforms bled out across the board.

Bitcoin breaks support
King crypto couldn''t hold the line, tumbling to $103K. The ''digital gold'' narrative got tested as correlations with traditional markets spiked.

Geopolitical shrapnel
The Israel-Iran conflict escalated overnight, sending shockwaves through risk assets. Crypto markets—still the casino annex of global finance—got caught in the crossfire.

Meanwhile, Wall Street analysts pretended they saw this coming all along. Funny how that works.

Analysts attribute the drop to a combination of geopolitical uncertainty and the expiration of nearly $3 billion in bitcoin options contracts on June 13, which amplified market volatility.

Ethereum, despite recent strength from $240 million in ETF inflows, erased much of its weekly gains. It dropped over 11% from the daily high, with a 36% boost to its 24-hour trading volume. 

From major altcoins, solana (SOL) digested the largest dip as it fell to $140—currently down 8.43% in the past 24 hours. It is followed by Ethereum’s 7%, Dogecoin’s 6%, and XRP’s 4% decline. Meanwhile, SUI, ADA, and LINK have also declined notably in the turmoil. 

Trending Crypto Today

• USDF (Aster USDF)
• BTC (Bitcoin)
• ETH (Ethereum)
• SOL (Solana)
• PI (Pi Coin)

Top Gainers and Losers Today

While most crypto assets have declined drastically, AB token is leading with it spiking over 5%, followed by LEO’s 3% surge. Among losers, SPX is atop as it declines by 20%, followed by Fartcoin and TIA’s 16% and 13% decline respectively. 

Crypto Market Cap Overview

As per CoinMarketCap data, the global crypto market cap today sits at $3.27 trillion in valuation, down 2.71% in the past 24 hours. The trading volume for crypto markets today sits at $173.14 billion. 

Also read: Japanese Firms Ride Bitcoin Wave as Its Price Sustains Above $100K