Bitcoin Crashes Below $73K as US Strikes on Iran Trigger…

Bitcoin broke below $73,000 for the first time in months after U.S. Central Command carried out airstrikes on an Iranian military site near the Strait of Hormuz, triggering a broad sell-off across crypto and global risk assets. The move wiped out nearly $1 billion in leveraged positions within 24 hours — one of the largest liquidation events of the year.

CoinGlass data shows $958.8 million in total liquidations across 167,706 traders, with $897 million coming from long positions and just $61 million from shorts. Bitcoin led the carnage at $386 million in liquidations, followed by Ethereum at $246 million. The largest single order was a $15.34 million BTC position on Hyperliquid. The 93% long-skew tells the story: traders were positioned for a recovery and the market moved violently the other way.

The geopolitical backdrop escalated fast. The U.S.