Total crypto market capitalization fell nearly 3.8% to about $2.61 trillion as United States-Iran tensions fueled a risk-off sell-off, with Bitcoin dropping below $80,000 and roughly $91 million in long positions liquidated.
The cryptocurrency market fell sharply on Friday as renewed tensions involving the United States and Iran triggered a broader risk-off move across global markets. According to the sources, total crypto market capitalization declined nearly 3.8% to around $2.61 trillion, while Bitcoin fell below $80,000. The sell-off was accompanied by roughly $91 million in long liquidations, showing how falling prices forced leveraged bullish positions to close and likely intensified downside pressure. One source ties the move to a headline that Iran rejected a deal linked to President Donald Trump, while the other describes the decline more broadly as a reaction to renewed military tensions between the United States and Iran.