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US Strikes Iran: Crypto Slightly Rebounds Following $1.2bn Liquidations
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An artificial intelligence tool created this summary, which was based on the text of the article and checked by an editor. Read more about how we use artificial intelligence in our journalism.A weekend spike in Middle East tensions — US airstrikes on Iranian sites — sparked a roughly $1.2 billion crypto liquidation wave concentrated in Bitcoin and Ethereum, followed by tentative Monday recoveries led by several altcoins.
- Scale of losses: About $1.2B wiped out over two days; BTC ≈ $376M and ETH ≈ $461.5M in liquidations, with long positions hit hardest.
- Geopolitical catalyst: The strikes triggered a rapid risk-off move, forcing leveraged unwind and sharp, market-wide volatility.
- Trading outlook: The bounce is fragile—BTC must hold ~$100k (reclaiming $104–105k for momentum) and ETH $2,200 (reclaim $2,350–2,400); manage leverage.
Over the weekend, the crypto market endured $1.2billion in liquidations following the US strikes on Iran’s nuclear facilities on 21 June. Bitcoin and Ethereum led the losses, hit by aggressive long squeezes and a wave of panic selling.
However, signs of recovery began to surface by Monday morning, especially among altcoins .
Liquidation breakdown: BTC and ETH lead the losses
On 21 June, the day of the strikes, over $625million in crypto positions were wiped out, $559m of that from long liquidations.
The pressure intensified on 22 June, with another $670m lost, pushing the two-day total past $1.2bn.
According to Coinglass data, Bitcoin (BTC) accounted for around $376m in liquidations across the weekend, with long positions bearing the brunt. Ethereum (ETH) saw even greater losses, with liquidations totaling roughly $461.5m, also dominated by longs.
Geopolitical tensions spill into markets
The spike in volatility followed a dramatic escalation in the Middle East conflict with US ‘Operation Midnight Hammer’ airstrikes on Iranian military infrastructure.
The strikes prompted Iran to fire missiles toward Israel, and Israel responded with airstrikes inside Iranian territory.
The back-and-forth triggered a global risk-off move, prompting traders to unwind leveraged crypto positions rapidly.
Market bounces back: Altcoins show early strength
After the weekend crash, markets opened Monday with signs of recovery. Bitcoin rebounded above $101,900, while Ethereum rose back to $2,260.
Several altcoins have also seen a slight rally. XRP maintains $2, Dogecoin (DOGE) edged toward $0.15, and Cardano (ADA) recovered near $0.54, indicating renewed appetite for risk among traders. Solana (SOL) has risen by 0.4% to $133.84 at the time of writing.
BTC trend analysis: Reclaim or rejection?
Bitcoin dropped to $100,522 over the weekend and touched a low of $98,225 on 22 June. It has since rebounded to around $101,455.
The daily RSI stands at 41.56 — weak but not yet oversold. BTC continues to hover above the key $100,000 psychological level, which has served as support since March. A clear breakdown below that could open the path to $97,000 or lower.
On the upside, reclaiming the $104,000–$105,000 range would signal a shift in momentum and a potential reversal.
ETH trend analysis: Testing major support
Ethereum mirrored Bitcoin’s trajectory, dropping to $2,222 before recovering to $2,261. On 21 June, it hit a weekend low of $2,113 before rebounding.
The RSI has slipped to 36.04, approaching oversold territory, but ETH is holding above key support at $2,200. A drop below that level would shift focus to the $2,000 zone. For a bullish case to rebuild, ETH needs to reclaim the $2,350–$2,400 area.
Struggles ahead
The crypto market just experienced one of its most severe liquidation events in months, fueled by geopolitical uncertainty and leverage washouts.
While Bitcoin and Ethereum have stabilized, the rebound remains fragile. Key support zones are still intact, but another flare-up in the Iran-Israel conflict could trigger a new wave of selling.
For now, all eyes are on whether this bounce holds or if it’s just a pause before another leg down.
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