Bitcoin prices have dropped 7% on the day, breaking key support to a nine-week low after the US and Iran launched fresh strikes as talks over a possible ceasefire have stalled.
Bitcoin (BTC) fell to $65,385 on Coinbase in early trading on Wednesday, its lowest level since late March, according to TradingView.
The slump follows the largest daily fall since Feb. 5 as BTC shed more than $4,500 on Tuesday.
According to CoinGlass data, around 277,000 traders have been liquidated over the past 24 hours, with total liquidations of around $1.83 billion. More than 90% of them were long positions, primarily in Bitcoin and Ether (ETH).
Bitcoin has fallen below $66,000 in the most significant single-day drop since February. Source: TradingView
Andri Fauzan Adziima, the research lead at Bitrue Research Institute, told Cointelegraph that Bitcoin’s current drop is more about “leveraged liquidations, heavy ETF outflows, and technical breakdowns than pure Iran news, but it amplifies
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