Daily liquidations have surged again, reaching around 800 million dollars.
The cryptocurrency market has once more reacted quickly to major global developments, with the latest price swings highlighting its sensitivity to geopolitical news.
Earlier, Bitcoin surged by roughly 3,000 dollars within minutes after Donald Trump announced that his team had held productive discussions with Iranian officials and agreed to pause military actions against Iran’s power infrastructure for five days while talks continued.
However, the rally was short lived. Iranian authorities quickly rejected these claims, stating that there had been no direct or indirect communication with Trump. They also accused him of attempting to buy time in a conflict that was not progressing as expected.
Officials in Iran further claimed that the United States stepped back from potential strikes after receiving firm warnings. They added that the Strait of Hormuz would not return to normal conditions while psychological pressure tactics persist.
Market Reacts to Conflicting Statements
Following Iran’s response, Bitcoin reversed its gains almost immediately. After reaching a recent high of 71,500 dollars, the price dropped by around 2,000 dollars within minutes before stabilizing near 70,000 dollars.
The heightened volatility has continued to impact leveraged traders, with more than 200,000 positions liquidated over the past 24 hours. Data from CoinGlass shows that total liquidations have climbed to approximately 800 million dollars.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic
