Bitcoin drops to $65K nine-week low, triggering $1.8B in crypto liquidations amid geopolitical tensions
By
@cointelegraph
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Summary
Bitcoin (BTC) dropped 8% to a nine-week low of $65,360 amid escalating geopolitical tensions between the US and Iran. 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. The price fell to its lowest level since March 29, with sellers maintaining control and analysts warning of a potential further drop toward $60,000.
Key quotes
· 3 pulledBitcoin (BTC) has dropped 8% to a nine-week low of $65,360 from Tuesday's high of $71,300 amid increasing geopolitical risks surrounding the US-Iran war.
Data from TradingView showed new BTC price lows of $65,362 on Bitstamp, the lowest since March 29 as sellers stayed in control.
This extended the deviation from the local high of $82,800 to 21% and was accompanied by massive liquidations across the derivatives market.
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