Cryptocurrency Derivatives Market Suffers $1.8 Billion Sell-Off Amid US-Iran Tensions

The cryptocurrency derivatives market is increasingly integrated into mainstream finance, as evidenced by a recent sell-off of $1.8 billion in one hour on April 14, 2025.

The event was triggered by heightened US-Iran tensions and underscored the market's sensitivity to global macro risks. The sell-off was characterized by a sharp decline in the derivatives pressure index from 30% to 18%, representing a 12-point drop and one of the most severe single-hour declines recorded in 2025.

The rapid skew in positioning created conditions ripe for a potential technical rebound, as noted by analysts. Market participants can monitor several indicators to anticipate such events, including geopolitical news feeds, derivatives pressure index and aggregate open interest on sites like CryptoQuant, funding rates on perpetual swaps, and levels of predicted liquidations across exchanges.