Crypto slides on Hormuz airstrikes as $897 million in long liquidations pile up
CoinDesk
Cryptocurrency markets declined following U.S. airstrikes in the Strait of Hormuz, triggering nearly $900 million in long position liquidations.Summary
Bitcoin and Ether prices dropped significantly as rising oil prices and geopolitical tensions from U.S. airstrikes in the Strait of Hormuz rattled global markets. The resulting risk-off sentiment led to $958.8 million in total liquidations, with long positions accounting for $897 million. While open interest in Bitcoin futures decreased, Ether saw a rise in open interest alongside price drops, suggesting traders are positioning for further downside.
(Source：CoinDesk)