Following U.S. military strikes on Iranian nuclear sites, the crypto market experienced over $1 billion in liquidations, with Bitcoin's price falling below $100,000 for the first time in 45 days. The majority of liquidations affected long positions, while altcoins saw the steepest declines amidst growing concerns over potential disruptions in global oil trade.

Over 1.5 million crypto traders faced liquidation as nearly $10 billion in open interest was erased following President Trump's announcement of 100% tariffs on Chinese imports. Bitcoin and Ethereum saw the largest losses, with significant drops in their market prices, while one trader reportedly profited $190 million from short positions during the turmoil.

Over the past 24 hours, the cryptocurrency market experienced $1.7 billion in liquidations, primarily driven by a significant drop in Bitcoin and Ether prices. Approximately $1.62 billion of the liquidations were from long positions, indicating a turbulent trading environment as over 404,000 traders faced forced closures of their positions. Analysts suggest that the prevailing market conditions may indicate the end of the recent bull cycle.