Middle East tensions in the crypto market: Is the decline over?

Although the leading cryptocurrency Bitcoin (BTC) fell after Israel launched an airstrike on Iran, it managed to recover in a short time.

News that Israel launched an operation against Iran heated up the agenda at night. The endless high tension in the Middle East caused many cryptocurrencies, especially BTC, to fall. ETH, the leader of altcoins, fell by 4.53 percent and approached $2,350.

BTC fell back to $65,500 at night. The leading crypto had last fallen to these levels on October 23. BTC, which was expected to overcome the $70,000 resistance, touched $65,000 twice in three days, creating anxiety.

Analysts argued that corrections can be seen frequently in the crypto market, but the market maintains its bullish outlook.

Bitcoin (BTC), which fell in the first hours of Israel's attack on Iran, began to recover after the operations in question were short-lived. BTC rose 2.25 percent from the night's low.

The price volatility in the crypto market during the night hours put traders trading in futures markets at risk. According to Coinglass data, $215 million worth of liquidation occurred in the last 12 hours.

Long (rise) transactions were liquidated the most. According to the data, $190 million worth of long liquidation and $26 million worth of short (fall) liquidation occurred.

138,524 traders were liquidated in the last 24 hours. Liquidations occurred mainly in altcoins. While $65.33 million evaporated in BTC transactions in the last 24 hours, $59.75 million was erased in ETH transactions.

DOGS, IO, TURBO, CAT, EIGEN, $TIA , $NOT and $GALA altcoins were the altcoins that fell the most, upsetting their investors.

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