Bitcoin falls below $73,000 as U.S. strikes on Iran trigger $1 billion in crypto liquidations
By
Shaurya Malwa
4d ago· 4 min readenNews
80/100
Golden Brown
Bagelometer↗
Fresh out the oven, still warm. Top of the tray.
Score80TypenewsSentimentvery negative
Summary
Bitcoin dropped below $73,000 for the first time in months following fresh U.S. airstrikes on an Iranian military site near the Strait of Hormuz, which reignited geopolitical tensions and triggered nearly $1 billion in leveraged crypto position liquidations. Major cryptocurrencies including Ether, Solana, XRP, and Dogecoin all fell 3-4%, with only Hyperliquid (HYPE) holding weekly gains. The selloff represents one of the largest liquidation events of the year as risk assets broadly declined.
Key quotes
· 4 pulledBitcoin broke below $73,000 for the first time in months as fresh U.S. strikes on Iran sent risk assets lower and triggered one of the largest liquidation events of the year.
Bitcoin traded at $72,978 in Asian hours Thursday, down 3.4% over 24 hours and 6.3% over the past seven days.
Ether (ETH) fell 4.2% to $1,976, losing the $2,000 level, and is down 7.7% over the past seven days.
Nearly $1 billion in leveraged positions were wiped out after U.S. airstrikes on an Iranian military site near the Strait of Hormuz reignited the conflict markets had started to price out.
Crypto majors sold off 3% to 4% and nearly $1 billion in leveraged positions were wiped out after U.S. airstrikes on an Iranian military site near the Strait of Hormuz reignited the conflict markets had started to price out.
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