"Bitcoin slid to $76,000 on May 18 following rising geopolitical tensions between the U.S. and Iran. The drop triggered $722 million in crypto long liquidations as Iran reportedly unveiled Hormuz Safe. Yellow Capital's CEO notes BTC's recovery depends on macro liquidity conditions rather than crypto news."
"Market data shows that bitcoin, which traded well above $78,000 just before Sunday evening, initially slipped below $77,000 just after 9 p.m. EST. The top cryptocurrency remained largely under that threshold until 9:40 a.m., when a relief rally saw it not only reclaim $77,000 but surge well past $77,600. However, shortly afterward, a fresh wave of selling saw it completely reverse earlier gains and plummet to $76,000."
"The reversal caused bitcoin's total market capitalization, which stood at just under $1.6 trillion on May 15, to decline to $1.53 trillion. By shedding more than $1,000 of its value, bitcoin's nearly 2% drop triggered the liquidation of approximately $223 million in long positions over a 24-hour window. In contrast, only $27 million in short bets was liquidated during the same period."
"Reports of an imminent return to fullscale combat persisted on May 16, extending the sense of volatility that dominated the weekend. One report even suggested operations could resume before the end of the week. The speculation gained traction as Pakistani officials offered no meaningful diplomatic updates and oil prices snapped back to levels last seen during active fighting, reinforcing the perception that deescalation efforts had stalled."
Bitcoin slid to $76,000 on May 18 as geopolitical tensions between the U.S. and Iran increased. The move followed remarks on May 15 suggesting possible renewed U.S. and Israel combat operations against Iran. After trading above $78,000, bitcoin dropped below $77,000, briefly rebounded above $77,600, then reversed again and fell to $76,000. The decline reduced bitcoin’s market capitalization from just under $1.6 trillion to about $1.53 trillion. The price drop triggered liquidations totaling $722 million in long positions versus about $94 million in shorts. Reports of potential renewed full-scale combat and rising oil prices sustained volatility, while recovery was linked to macro liquidity conditions rather than crypto-specific developments.
Read at news.bitcoin.com
Unable to calculate read time
Collection
[
|
...
]