CandleFocus Nearly $250 million wiped from the crypto market as Iran attacks Israel
2024-10-01
Author: Content Editor
In just four hours, the cryptocurrency market lost nearly $248 million as a result of Iran's attack on Israel. Long positions were hit the hardest, with $221 million liquidated compared to $18 million from short positions. This drop, driven by geopolitical risks, emphasized the market's ongoing instability. Bitcoin, which is often considered a safe haven asset, did not perform well during the crisis, disappointing traders who hoped it would act as a hedge. Other altcoins also experienced losses, indicating that the entire cryptocurrency market was affected. The event highlights the risks of leverage trading and the increased volatility it can cause.
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