Analysts linked the selloff to:

Escalating geopolitical tensions around the Strait of Hormuz

Rising oil prices after fresh strikes

Heavy liquidations in leveraged crypto positions

Continued outflows from U.S. spot Bitcoin $ETH s

Several reports estimate nearly $1 billion in crypto liquidations over 24 hours, with the total crypto market losing roughly $80 billion in value during the downturn.

Traditional markets reacted differently. Some equity indices recovered later in the session on reports of possible U.S.–Iran

ETH

2,040.14

+1.00%