On Sunday, the United States intervened in the Iran-Israel conflict by striking three Iranian nuclear facilities through 'Operation Midnight Hammer'. This caused significant volatility in the cryptocurrency market, resulting in an overall downward trend.
High-risk cryptocurrency whales were also affected, experiencing profits and losses. This highlighted the risks and potential rewards of leveraged trading during uncertain times.
Coin Whale Market Response Amid Iran-Israel Conflict
According to BeInCrypto data, the total cryptocurrency market capitalization dropped by 3.2% in the past 24 hours, with most coins showing a downward trend. Yesterday, Bitcoin fell below $100,000 for the first time since May 8th. was triggered by concerns that Iran might close the Facilities after the US US attack.
Bitcoin was trading at $$101,516 and recovered above $100,000, but still declined by 1.2% in the past 24 hours. Additionally, BTC lost 4.4% of its value last week, with the decline in other altcoins being even more pronounced.
Amid Iran-Israel Conflict. Source a href="https://beincrypto.com/price/" rel="nofollow">BeInCryptoDue to current market instability, , with several whales significantly impacted by the Iran-Israel tensions. According to LookOnChain data, a whale identified by wallet address7e8taken b took long positions in Bitcoin and and Ethereum.
However, as the market declined, this whale was liquidand suffered losses exceeding $3.5 million.
"Due to market collapse, whale 0x7b7e8b was liquidated for 965 BTC ($97.5 million) and 12, 12,26. million suffering losses over $over $3. 3 ," as stated in the post.
Despite the losses, this whale re-entered the market and opened a 40x long position in BTC. According to Hyperdash data, this position generated unrealized profits of $1.79 million.
Blockchain analysis companies also highlighted the
The most recent loss loss occurred on June 22nd, where the tradergitrader a Bitcoin long suffering a $17 million. However, the trader switched to a Bitcoin short position and with profits.
Nevertheless, not all traders experienced losses. Some whwhales on whales took advantage of the downward trend. Trader ( 0x51d9) bet on the the Bitcoin price decline and secured over $9 million in profits from a 40x short position.
"He lost a total of $4.96 million in his his previous 6 trades, but recovered everything in this trade," wrote LookOnChain..Abraxas Capital emerged as a major winner. The company is shorting BTC, ETH, HYPE, SUI, SOL with 10x leverage using two wallets on the Liquid platform. This strategy has generated floating profits of over $$74 million.
