Nearly 90% of all liquidations occurred within roughly an hour after Bitcoin plunged below the $77,000 level.
The broader bearish momentum that started after Bitcoin was rejected at $82,000 on Thursday evening intensified over the past 12 hours, sending BTC to a fresh multi week low of $76,650 on Bitstamp.
The sharp decline was largely linked to renewed threats from US President Donald Trump toward Iran. Even optimism surrounding the reported US China agreement failed to support Bitcoin’s price.
Fresh Tensions Spark Market Selloff
Although the ceasefire between Iran and Israel was extended several weeks ago, negotiations for a lasting peace agreement have shown little progress. Reports indicated that proposals submitted by Iran were repeatedly rejected by the Trump administration, with one recent offer described as “totally unacceptable.”
Trump later suggested that the ceasefire remains fragile and shifted his attention back to the conflict following his trip to Beijing. In a new post on Truth Social, he warned that Iran’s “clock is ticking” and urged the country to “get moving fast” or risk severe consequences, adding that “time is of the essence.”
The statement came only hours after The Times of Israel reported that Trump met with Israeli Prime Minister Benjamin Netanyahu on Sunday to discuss developments surrounding the conflict.
Following the remarks, Bitcoin fell to just below $76,700 for the first time since the beginning of the month after what had been a relatively calm Sunday session.
Crypto liquidations surged past $660 million over a 24 hour period, with more than $610 million erased within one to two hours as Bitcoin and the broader market sharply declined after Trump’s comments.
As a result, Bitcoin has now dropped more than $5,000 from Thursday evening’s peak near $82,000.
US China Deal Fails to Lift Crypto
After Trump’s Beijing visit concluded, both the United States and China released conflicting statements regarding whether a formal agreement had been reached.
According to The Kobeissi Letter, China reportedly agreed to several US demands, including an initial purchase of 200 Boeing aircraft for Chinese airlines and commitments to buy at least $17 billion worth of US agricultural products annually between 2026 and 2028.
Despite those developments, the crypto market showed little positive reaction.
Analysts now expect heightened volatility throughout the week as traders continue monitoring geopolitical tensions, macroeconomic developments, and broader market sentiment.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic
