BTC liquidates $66 million in positions after failing to sustain gains above $78,000 amid geopolitical uncertainty.
Bitcoin (BTC) hovered near $77,000 after a brief surge to $78,000 triggered $66 million in liquidations across long and short positions. The move coincided with heightened US-Iran tensions, which weighed on risk assets despite US equities hitting record highs.
The flash volatility followed a pattern of liquidation-driven price action, with funding rates signaling caution among traders. WTI crude oil climbed toward $95 per barrel, reflecting broader market unease over geopolitical risks.
Analysts noted that BTC’s price swings remained tied to macro events, with liquidity grabs dominating short-term movements. The cryptocurrency underperformed relative to traditional markets, which extended recent gains.