The post Over $1.79 billion liquidated from crypto market as Bitcoin dipped below $100k after US bombed Iran appeared on BitcoinEthereumNews.com.

The sudden escalation in Middle East tensions over the weekend triggered sharp moves across global markets, with Bitcoin plunging below the $100,000 mark for the first time since May. The drop followed a surprise U.S. airstrike on Iranian nuclear facilities and a retaliatory vote by Tehran’s parliament to authorize the closure of the Strait of Hormuz, a critical energy chokepoint. According to Coinglass data, more than $1.79 billion in crypto positions were liquidated since Friday, with nearly 70% of those on the long side. Bitcoin alone tumbled as much as 4.2% to hit $98,300 late Sunday before recovering about 3.1% in early Asia trading. Bitcoin price decline (Source: TradingView) Ethereum fell 17% over the weekend but showed a similar relative bounce, rising 6.75% after weekend lows. The leading altcoin is down 21% since the local high of $2,877 mid-month. The broader sell-off accentuated the sensitivity of risk assets to geopolitical shocks, especially with leverage levels in crypto markets still elevated. “The fact that nearly a billion dollars was flushed out so quickly suggests many traders were positioned for relative stability, not sudden escalation,” one derivatives trader told CryptoSlate. In traditional markets, crude oil prices surged on fears of disruption to global energy flows. Brent futures hit an intraday high of $81.40, a five-month peak, before paring gains to settle around $77.73, still up 0.93% on the day. WTI crude followed a similar trajectory, peaking at $78.40 before easing back below $75. Analysts attributed the pullback to the fact that shipments are currently still flowing through Hormuz. “Current escalation could spiral Brent toward $100, with $120 increasingly plausible if Hormuz is actually blocked,” Sugandha Sachdeva of SS WealthStreet told Reuters. Gold, often a go-to in times of crisis, defied expectations by slipping 0.4% to $3,355/oz, while futures on COMEX were down 0.5% at $3,370. Traders…

---

Filed under: News - @ June 23, 2025 9:22 am