Bitcoin declined sharply as tensions between the US and Iran escalated with reported strikes. The drop triggered widespread liquidations across crypto markets.
Bitcoin slid 7 percent to reach a nine-week low. The move coincided with US and Iran strikes that drove 1.8 billion dollars in crypto liquidations. Separately, the US Treasury sanctioned Iran’s Nobitex crypto exchange along with three other platforms. Officials said the measures aim to restrict Iran’s access to financial networks.
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Bitcoin dropped below $73,000 on Thursday, reaching a six-week low, as renewed US military strikes on Iran escalated geopolitical risks and triggered heavy selling across crypto markets. Spot Bitcoin ETFs saw sharp outflows, with BlackRock's IBIT alone shedding $528 million in a single day. The move coincided with nearly $1 billion in liquidations across derivatives platforms.
Bitcoin retreated from weekend highs near $64,000 as renewed military exchanges between Israel and Iran rattled global markets. Oil prices surged more than 3 percent while Asian equity indexes tumbled. The moves followed a short-lived rebound that had lifted the cryptocurrency above $60,000.
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Bitcoin dropped to its lowest level since late March, trading near $65,000 as selling pressure intensified. The decline coincided with rising oil prices and weakness in U.S. stocks following Middle East developments. Ethereum also fell sharply, testing support near $1,800.
Bitcoin dropped below $67,000 on Tuesday, marking its lowest level since April. The decline triggered nearly $400 million in liquidations within an hour and over $1 billion over 24 hours. Analysts linked the selloff to capital shifting toward AI-related equities and heavy outflows from Bitcoin ETFs.
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Bitcoin has maintained its position around $70,000 despite a sharp rise in oil prices driven by escalating tensions with Iran. U.S. stocks tumbled on concerns over energy costs and private credit issues, while President Trump prioritized stopping Iran over price worries. Later, Treasury Secretary Scott Bessent's announcement on Russian oil eased some pressures, pushing Bitcoin toward $72,000.