Global markets, including cryptocurrencies and stocks, experienced widespread declines following the end of the US-Iran ceasefire. The US launched airstrikes on Iranian Revolutionary Guard vessels, prompting retaliatory attacks by Iran on Kuwait and Bahrain. President Trump declared the ceasefire with Iran over, citing negotiations as 'meaningless,' leading to a sharp drop in global risk appetite. Bitcoin and Ethereum both fell over 2%, while the CoinDesk 20 Index dropped nearly 3%. In the stock market, Nasdaq 100 and S&P 500 futures each declined about 1.5%. In the crypto derivatives market, BTC futures open interest saw a slight decrease, and Ethereum's price drop triggered approximately $90 million in long liquidations. The overall 24-hour crypto market liquidations totaled around $450 million, with about $350 million from Altcoin pairs. Altcoins broadly declined, with Solana erasing all gains made since July. Demand for put options increased, and the 30-day implied volatility for BTC and ETH rose for the second consecutive day.