Bitcoin and Ether slide as U.S. airstrikes in Strait of Hormuz trigger oil spike and $897M in crypto liquidations
By
Oliver Knight, Shaurya Malwa
Fresh out the oven, still warm. Top of the tray.
Summary
Bitcoin fell to its lowest since April 13 and Ether dropped below $2,000 as U.S. airstrikes in the Strait of Hormuz triggered a spike in oil prices, stoking inflation fears and causing nearly $900 million in long liquidations across crypto markets. The geopolitical shock dashed ceasefire hopes and sent risk assets lower globally, with BTC trading near $73,400 (down 1.2%) and crude oil jumping to $96 a barrel before settling at $94.
Key quotes
· 4 pulledBitcoin fell to its lowest level since April 13 on Thursday as U.S. airstrikes in the Strait of Hormuz dashed ceasefire hopes and sent a chill through risk assets globally.
The immediate catalyst was a spike in oil prices. Crude jumped to $96 a barrel from $92 before settling at $94 during the European morning.
Ether (ETH), meanwhile, slipped below $2,000 for the first time since March 29, shedding 1.5%.
U.S. airstrikes stoked inflation fears, wiping out nearly $900 million in leveraged longs.
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