$660M Liquidated as Bitcoin Crashes on Trump-Iran Escalation Fears
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Bitcoin fell from a rejection at $82,000 on Thursday to a multi-week low of $76,650 on Bitstamp within 12 hours, extending the bearish trend. The sell-off was driven by renewed geopolitical risk after US President Donald Trump's threats toward Iran and highlights increased crypto market volatility and downside risk despite reports of a US-China deal.
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The overall bearish trend that began following the rejection at $82,000 on Thursday evening worsened in the past 12 hours when another leg down drove BTC to a fresh multi-week low of $76,650 (on Bitstamp).
The most evident reason for this was the new set of threats from US President Donald Trump toward Iran. Even the reported deal between the US and China couldn’t save BTC.
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