Cryptocurrency markets and U.S. equities fell sharply on Wednesday following U.S. President Donald Trump's declaration that the ceasefire with Iran is "over" after fresh airstrikes. The CoinDesk 20 Index dropped 2.9%, with Bitcoin and Ethereum both losing over 2%. Altcoins faced steeper declines, with JUP, ETHFI, and PUMP each down more than 5%. U.S. stock futures also declined, with Nasdaq 100 and S&P 500 futures falling up to 1.5%. Despite Bitcoin's drop to $62,075.76, it remains up 6% for the month. Futures open interest has decreased slightly, indicating traders are not heavily shorting the rally. However, Ether's open interest remains steady amid significant liquidations. The sell-off in Canton Network's CC token has intensified, with its price hitting a new low for the year. Meanwhile, options markets show increased hedging activity, with implied volatility indexes for Bitcoin and Ether rising for the second consecutive day. In the altcoin sector, $350 million of the $450 million in liquidations were attributed to altcoin trading pairs. Solana has retraced its recent gains, while MORPHO defied the trend, rising 4% as its total value locked reached a record high. Some altcoins are entering oversold territory, potentially signaling a buying opportunity.