Bitcoin plunges to $61,322 as Middle East tensions and corporate selling fuel five-day rout

Bitcoin extended its losing streak to five consecutive days, tumbling to $61,322, its lowest level since before the Iran conflict escalated. The decline marks the longest losing streak for the cryptocurrency since August, according to Hacker News, as geopolitical tensions between the US and Iran continue to rattle markets. "Bitcoin fell for the fifth consecutive day, dropping to $61,322, its lowest level since before the Iran conflict." The slide from a local high of $82,800 represents a 21% correction, dlvr.it reported, with the price hitting a nine-week low of $65,360 before the further drop. The broader selloff triggered massive liquidations totaling $1.8 billion across the crypto derivatives market, as sellers maintained control and analysts warned of a potential further decline toward $60,000. "The decline from a local high of $82,800 represents a 21% correction, triggering massive liquidations totaling $1.8 billion across the crypto derivatives market." Hacker News attributed the rout to three key factors: the Middle East conflict, liquidations of bullish bets, and a rare sale of tokens by the dominant corporate buyer. The combination of geopolitical uncertainty and unusual selling pressure from a major holder has amplified the downturn, with both outlets noting that the market remains fragile as traders watch for further escalation or stabilization in the region.

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