According to Francisco Rodrigues, cryptocurrencies declined sharply due to Israeli airstrikes on Iran escalating geopolitical tensions, with bitcoin (BTC) falling 2.9% and a broad crypto market index losing 6.1% over 24 hours. SOL dropped 9.5% despite earlier gains from SEC ETF updates, as Jake Ostrovskis noted optimism for Solana ETF approvals. Velo data showed open interest plunging to $49.31 billion, while Deribit data revealed increased BTC and ETH put/call ratios indicating higher demand for downside protection. Coinglass reported $1.16 billion in liquidations, predominantly from long positions, amid heightened market volatility.

According to CoinDesk, Bitcoin (BTC) dropped 2.9% and the CoinDesk 20 Index fell 6.1% over 24 hours as Israeli airstrikes on Iran fueled global risk aversion, leading to $1.16 billion in liquidations reported by CoinGlass. Wintermute trader Jake Ostrovskis stated that Solana (SOL) ETF optimism persists with a 90% approval probability by year-end per Bloomberg analysts, but Middle East tensions now dominate trader focus with Polymarket indicating a 91% chance of Iranian retaliation.