Was This $1 Billion Crypto Wipeout Really Just About Iran?

On June 8, Israel struck military targets inside Iran in the latest escalation of the Middle East conflict that has rattled global markets since February.

Within hours, more than $1 billion in leveraged crypto positions were wiped out.

Bitcoin fell more than 2%. Ethereum dropped roughly 7%. Liquidations cascaded across the market as traders hit the exits all at once.

Old Teeka would have nodded and moved on.

I’ve been in markets long enough to know that when geopolitical shocks hit, risk assets like crypto sell off. That’s just the nature of the beast.

Crypto always takes the first punch because it trades 24-7 and offers instant liquidity. There are no circuit breakers and no waiting for Monday’s opening. Just an immediate reaction to whatever just happened in the world.

Normally, I’d file that under expected volatility and move on. But something stopped me this time. And I couldn’t just move on.

What Changed This Time