At the start of trading in Asian markets on Monday, the price of Bitcoin (BTC) fell to $76,000. According to TradingView data, the cryptocurrency's value has dropped by 7% over the last three days, hitting a three-week low of $76,500 and erasing all gains made since the beginning of May. This is reported by Cointelegraph.com reports .
The price drop occurred after Bitcoin recently reached a 13-week high of around $83,000. This growth was driven by large inflows into spot ETFs and optimism surrounding legislative processes in the US.
The shift in market sentiment was triggered by statements from US President Donald Trump regarding Iran. Citing delays in a peace deal, Trump issued new threats against Iran, warning that "time is running out." Analysts speculate that the US may be preparing for a new military operation against Iran.
Geopolitical tension led to massive liquidations in the crypto market. Over the last 24 hours, a total of $677 million in positions were liquidated across the crypto market, with $190 million involving Bitcoin alone. Meanwhile, volatility was also observed in the oil market, with WTI crude prices rising by more than 3% within a few hours to reach $104, before correcting to $101.
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