Bitcoin Price Falls Below $66,000 Amid US-Iran Tensions

Bitcoin price dropped 7% in a single day, reaching its lowest level in nine weeks. This decline occurred against the backdrop of new military strikes between the US and Iran and stalled ceasefire negotiations. According to TradingView data, Bitcoin (BTC) fell to $65,385 on the Coinbase exchange during Wednesday trading. Cointelegraph.com reports .

CoinGlass analysis shows that nearly 277,000 traders were liquidated in the last 24 hours, with total losses amounting to $1.83 billion. Over 90% of these liquidations were long positions in Bitcoin and Ethereum (ETH). This marks the largest single-day decline since February.

Andri Fauzan Adziima, Head of Research at Bitrue Research Institute, attributed Bitcoin's current drop not only to Iran-related news but also to leveraged liquidations, significant ETF outflows, and technical breakdowns. He believes the market has a support level around $64,000–$65,000, and any de-escalation could trigger a sharp price recovery.

The $150 billion outflow from the crypto market coincided with military operations conducted by US Central Command (CENTCOM) in response to Iran's aggressive actions. The US military announced it successfully intercepted ballistic missiles and drones launched by Iran and struck targets on Qeshm Island.

Current military clashes are unfolding against the backdrop of a two-month truce between the US and Iran and ongoing indirect negotiations to lift the Strait of Hormuz blockade. However, no concrete agreement has been reached yet, increasing anxiety in global financial markets, including the crypto asset segment.