The cryptocurrency market suffered significant losses as altcoins plunged following Israel's airstrikes on Iran. Major cryptocurrencies such as Ethereum fell 7.8% to $2,533, while XRP and Solana dropped 3.9% and 8.4% respectively. Total liquidations exceeded $1 billion, with Bitcoin leading at $449.95 million, followed by Ethereum and Solana. This volatility in the market reflects growing uncertainty as Iran's President warned of retaliation. The incident has also dampened prospects for a nuclear deal with the U.S., with predictors now estimating a mere 4.7% chance of a successful outcome. In the aftermath of these developments, Bitcoin's price decreased by 2.2%, suggesting the broader market's nervous response to geopolitical events. Investors remain cautious amid these escalating tensions, prompting mass liquidations primarily from long positions, as traders react to the unstable environment.

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