Crypto Markets Tumble as Iran Strikes Resume, Drift Exploit Rattles Solana

Crypto markets slumped on Thursday as a fresh wave of risk-off sentiment swept across global markets following President Donald Trump’s pledge to continue military strikes against Iran.

Bitcoin (BTC) is trading at around $66,900, down 1.7% over the past 24 hours. ETH slipped 4% to $2,050, and SOL plunged 6% to $79 in the wake of the Drift exploit. Meanwhile, Ripple (XRP) dropped 3.3%.

Total crypto market capitalization decreased by 1.7% to $2.38 trillion, according to Coingecko.

The rout was triggered after Trump said Wednesday evening that the U.S. would continue strikes on Iran, reversing hopes for a diplomatic resolution that had buoyed markets earlier in the week.

The risk-off mood extended to institutional products. U.S. spot Bitcoin ETFs recorded a net outflow of $173.7 million on April 1, while spot Ethereum ETFs posted a $7.1 million withdrawal, according to SoSoValue.

Big Movers

Almost all of the Top 100 digital assets posted losses over the last 24 hours.

Algorand (ALGO) and MemeCore (M) outperformed, rallying 5%. Lighter (LIT) surged 10% after unveiling a collaboration with Wallet in Telegram.

Uniswap (UNI) and Solana (SOL) are today’s biggest losers, down 13% and 6%, respectively.

Around 185,000 leveraged traders were liquidated for $441 million in the past 24 hours, according to CoinGlass. Bitcoin accounted for $103 million, while ETH made up $93 million.