$238M Crypto Liquidation Wave Hits as Trump Threatens Iran Strikes

US President Donald Trump's warning of 'very hard' strikes on Iran sent shockwaves through crypto markets, triggering $238 million in liquidations and leaving long traders reeling.

Speaking at a Friday cabinet meeting at Camp David, Trump stated he was 'losing faith' in Tehran and warned the US would be 'hitting them very hard.'

The remarks landed squarely on crypto markets, where leveraged positions were wiped out. Long traders absorbed the bulk of the damage.

This is not an isolated incident. The US-Iran conflict has been a recurring driver of crypto liquidations since late February 2026, with earlier episodes ranging from hundreds of millions to near $1 billion in single-day liquidation events.