According to Francisco Rodrigues, Israeli airstrikes on Iran caused a global risk-off sentiment, leading to a 6.1% decline in the broad crypto market index and a 2.9% drop in bitcoin (BTC) over 24 hours. Jake Ostrovskis reported that Solana's SOL initially rallied on SEC ETF filing updates but fell nearly 9.5% due to heightened geopolitical tensions, with Polymarket traders indicating a 91% chance of Iranian retaliation. Despite $939 million in month-to-date inflows for BTC ETFs and $811 million for ETH ETFs, Velo data shows derivatives open interest plummeted to $49.31 billion amid increased demand for downside protection.

According to Francisco Rodrigues, cryptocurrencies declined sharply following Israeli airstrikes on Iran, with Bitcoin (BTC) falling 2.9% over 24 hours and a broad crypto market index dropping 6.1%, as geopolitical tensions spurred a flight to traditional safe havens like gold, which rose 1.3%. Solana (SOL) initially rallied on SEC ETF update reports but later dropped nearly 9.5%, while Polymarket traders indicate a 91% chance of Iranian retaliation, heightening market uncertainty. Derivatives data shows increased demand for downside protection, with BTC put/call ratio at 1.28 and negative funding rates across altcoins.

According to CoinDesk, cryptocurrencies declined sharply with the CoinDesk 20 Index losing 6.1% and bitcoin (BTC) dropping 2.9% after Israeli airstrikes on Iran heightened global risk aversion, as reported by CoinDesk. Jake Ostrovskis from Wintermute stated that Solana (SOL) rallied earlier on SEC ETF filing updates but has since fallen nearly 9.5%, while Bloomberg ETF analysts assign a 90% probability of SOL ETF approval by year-end. Derivative data from Deribit shows increased demand for downside protection, with BTC and ETH put/call ratios rising to 1.28 and 1.25 respectively.