According to CoinDesk, cryptocurrencies declined sharply as Israeli airstrikes on Iran heightened geopolitical risks, prompting investors to exit risk assets. The CoinDesk 20 Index fell 6.1% over 24 hours, with bitcoin (BTC) dropping 2.9% despite its haven appeal, while gold futures rose 1.3%. Solana (SOL) tumbled nearly 9.5% after earlier ETF-related gains, and derivatives data shows increased demand for downside protection with BTC and ETH put/call ratios at 1.28 and 1.25 respectively. Over $1 billion in liquidations occurred, mostly from long positions, and traders should watch upcoming token unlocks like ARB and ZK for volatility.