Bitcoin broke below $63,000 on Monday after fresh U.S. strikes on Iran near the Strait of Hormuz hit broader risk sentiment and rattled markets. The crypto drop coincided with selling across tech stocks, with Nasdaq futures down 1.5% as oil pushed higher on the renewed geopolitical tensions.
Bitcoin itself fell as much as 2.9% to around $62,284 at the session lows. Most of the crypto selling was amplified by forced liquidations on the derivatives side: roughly $73 million in Bitcoin positions were liquidated over the 24-hour window, with longs making up the clear majority. QCP Capital described the move as a contained selloff after about $300 million in crypto long liquidations.
That’s significant: the move read less like a crypto-specific shock than a rapid repricing of risk. For now, Bitcoin’s slide looks like a contained reaction, not a crypto-led breakdown.