According to CoinDesk, Bitcoin (BTC) dropped 2.9% and the CoinDesk 20 Index declined 6.1% over 24 hours as Israeli airstrikes on Iran heightened global risk aversion, sparking a flight from cryptocurrencies. Solana (SOL), which had rallied on SEC ETF approval speculation, plunged nearly 9.5% amid the conflict, while spot BTC ETFs recorded $86.3 million in daily net inflows. Derivatives data from Velo and Deribit showed increased demand for downside protection, with $1.16 billion in liquidations reported by CoinGlass.

According to Lookonchain, Ethereum (ETH) experienced a sharp decline, enabling smart trader 0xcB92 to accumulate an unrealized profit of $9.37 million from his ETH short position. This significant gain highlights active shorting strategies as Ethereum volatility increases, sending signals to traders about potential continued bearish momentum in the crypto market. As ETH price pressures mount, market participants may observe increased short interest and volatility, which could influence broader crypto asset pricing and trading strategies. (Source: Lookonchain on Twitter)