Bitcoin drops below $73,000 as U.S. strikes on Iran spark $1 billion liquidations
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- Bitcoin fell below $73,000 after U.S. airstrikes on an Iranian military site near the Strait of Hormuz triggered a broad crypto sell‑off.
- CoinGlass reported $958.8 million in liquidations across 167,706 traders in 24 hours, with $897 million from long positions and Bitcoin accounting for $386 million of the loss.
- U.S. Treasury imposed new sanctions on Iran’s Persian Gulf Strait Authority while the U.S. military shot down four Iranian attack drones, reigniting tensions after a brief cease‑fire.
- Trump warned the Strait of Hormuz would remain “open to everybody” and that the United States would “watch over it,” underscoring the geopolitical stakes.
- S&P 500 futures fell as global risk assets slipped, with the MSCI All Country World Index down 0.4% from its record high and Nasdaq 100 futures also pointing lower.
Why it matters: Crypto traders with leveraged long positions lose nearly $1 billion, while risk‑averse investors shift to safer assets; the $1 billion liquidation deepens market volatility and pressures oil‑related stocks as geopolitical risk spikes.
