Bitcoin Slides Below $103,000 as Israel Strikes on Iran Trigger $1 Billion Crypto Liquidations

Cryptocurrency markets sold off sharply after Israel launched airstrikes inside Iran, prompting a broad flight from risk assets. Bitcoin led the decline, breaking through key technical levels to trade below $105,000 and later touching an intraday low of about $102,934.

The sudden drop triggered a wave of forced liquidations. Data compiled from major derivatives venues show that roughly $1.02 billion of positions were wiped out over the past 24 hours, with long bets accounting for $943.31 million of the total. Within one hour of the strikes, an estimated $335 million to $360 million in positions evaporated, underscoring the market’s fragility amid geopolitical shocks.

Large, highly leveraged traders were among the hardest hit. A single $201 million Bitcoin long on Binance was liquidated, marking the day’s biggest individual wipe-out. Separately, on-chain records identify the trader known as “AguilaTrades,” who had amassed a 20× leveraged Bitcoin position exceeding $400 million earlier in the week, as having trimmed the holding to about $121 million while realizing a loss of roughly $11.7 million as prices slid.

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