Crypto Crash 2025: On June 23, 2025, Bitcoin (BTC) fell below $100,000 for the first time in a month, sending shockwaves through the global crypto market. Panic spread among investors after the US airstrikes on Iran’s nuclear sites, which led to a huge selloff in risk-on assets such as cryptocurrencies. The price of Bitcoin is currently trading around $100,852 (approximately Rs 83 lakh), down 0.67% in the last 24 hours. BTC also touched a low of $98,904 the previous day.
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A sharp decline in the crypto market
Not only Bitcoin, but the entire crypto market has been affected due to the US-Iran conflict. The price of Ethereum (ETH) fell 10% to $2,157, its lowest level since May 8. Altcoins such as Solana, XRP, and Dogecoin also fell by 5-10%. Total crypto market cap decreased by 7%, and more than $1 billion of positions were liquidated in 24 hours, including $915 million long and $109 million short positions. Traders have taken short positions of $1.4 bn in anticipation of Bitcoin falling further, especially in the $95,000- $100,000 range.
U.S. air strikes and market reaction
Former U.S. President Donald Trump confirmed on Saturday on Truth Social the airstrikes on Iran’s three major uranium enrichment centres in Fordow, Natanz, and Isfahan. The news sent shockwaves through financial markets. Crypto, which is considered a risk-on asset, increased selling pressure. Fears of Iran’s possible retaliation and the closure of the Strait of Hormuz further worsened market sentiment.
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Possibilities ahead
Experts say that high volatility in the crypto market can continue as long as geopolitical tensions persist in West Asia. If Iran retaliates or closes the Strait of Hormuz, Bitcoin could fall to the support level of $92,000- $94,000. However, historical data shows that after such crises, the market can recover in 4-6 weeks. Investors are advised to take their trading decisions carefully.
