Crypto Market Plunges $45 Billion in 30 Minutes Amid Geopolitical Tensions

The cryptocurrency market experienced a massive liquidation event on Sunday, with a loss of $45 billion in just 30 minutes.

President Trump's threat to strike Iran's power infrastructure unless Tehran reopened the Strait of Hormuz within 48 hours was the catalyst for this sudden downturn. The world's largest cryptocurrency, Bitcoin, saw its value drop by nearly $2,000, reaching a low of $69,141.

The broader crypto market followed suit, falling 1.95% to a $2.38T market capitalisation. Ethereum dropped 1.96% to $2,110, while Solana and Dogecoin shed 2.06% and 2.92%, respectively.

Analysts are closely monitoring the next 48 hours of diplomatic headlines from Washington and Tehran, which will determine whether this is a short-term correction or a more prolonged downturn.