Bitcoin Falls to $61,481 on Middle East Escalation, Wiping Out $310M in Long Liquidations

BTC-2.43%
On Wednesday, escalating Middle East tensions triggered a sharp sell-off in bitcoin, sending the price down 3.5% to a low of $61,481. The pullback erased $40 billion in bitcoin market capitalization and sparked $372 million in total crypto liquidations, with long positions accounting for $310 million of the damage. Brent crude surged past $80 per barrel amid tensions over the U.S.-Iran ceasefire.
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