BTC Slips Below $104k as Israel Launches Airstrikes on Iran

TL;DR

• Bitcoin is down 3.6% in the last 24 hours and now trades below $104k.

• The poor performance comes after Israel launched a series of airstrikes on Iran.

Middle East Crisis Pushes BTC Below $103k

The start of another regional war is affecting the broader cryptocurrency market as Bitcoin and altcoins have suffered huge losses in the last 24 hours. Bitcoin, the leading cryptocurrency by market cap, lost 3.6% of its value and now trades around $103,900 per coin.

Israel, early Friday local time, launched what it said was a “preemptive strike” on Iran’s nuclear program and other military targets. According to the Washington Post report, the strikes, including on the capital, Tehran, killed Maj. Gen. Hossein Salami, the head of Iran’s Islamic Revolutionary Guard Corps, and other senior officials, according to the Israeli military and Iranian state media.

With Bitcoin dropping to the $103k level, altcoins also recorded huge losses. Ether lost 9% of its value and risks dropping below $2,500 soon. Solana’s SOL is the worst performer among the top 10 cryptocurrencies by market cap, losing 10% of its value in the last 24 hours.

JUST IN: $335,000,000 liquidated from the crypto market in the past 60 minutes after Israel launches strikes on Iran. pic.twitter.com/wdHJD2Nev4

— Watcher.Guru (@WatcherGuru) June 13, 2025

XRP (6%), BNB (3%), DOGE (9%), ADA (9%), and TRX (1%) are all trading in the red zone. The poor performance also saw traders lose $335 million within an hour. 

With Bitcoin and other major altcoins underperforming, the total cryptocurrency market cap has decreased to $3.24 trillion, a 4.4% drop.