Cryptocurrency market rocked by Middle East tensions…₩260 billion liquidated in past 4 hours

On this day, President Donald Trump and major entities such as the Embassy of China in Israel urged evacuations in both Israel and Iran, causing a sharp spike in volatility in the cryptocurrency market. As a result, the futures market saw a mass liquidation of positions over the past 4 hours.

According to CoinGlass data as of 10 a.m. (KST) on the 17th, the total amount liquidated across all blockchain networks in the past 4 hours reached $195.67 million (about ₩260 billion). Of this, long positions accounted for $176.46 million, making up the majority, while short positions saw $19.19 million in liquidations.

By asset, Ethereum (ETH) led with the largest liquidation amount at $69.26 million, followed by Bitcoin ($29.24 million) and Solana ($14.57 million).

Although the previous day, with Iran expressing willingness to negotiate, financial markets were somewhat relieved, the situation reversed sharply around 7:30 a.m. after President Trump posted a message urging evacuation from Tehran.

The Embassy of China in Israel also notified its citizens to "evacuate from Israel as quickly as possible, even via land routes if necessary."