BTC Surges 4.5% to $105K After $753M Liquidations Amid Geopolitical Tensions and Market Volatility

Bitcoin (BTCUSDT) experienced significant volatility in the past 24 hours, primarily driven by heightened geopolitical tensions following U.S. military actions in Iran and the Iranian parliament's decision regarding the Strait of Hormuz. These events increased global risk aversion, resulting in over $753 million in crypto liquidations, with BTC and ETH most affected. Despite an initial dip below $99,000, Bitcoin's price rebounded, supported by steady trading volumes and resilience compared to other major cryptocurrencies. As of the latest Binance data, BTCUSDT is trading at $105,462.88, up 4.54% from a 24-hour open of $100,877.99, reflecting a modest recovery after the market-wide pullback. The overall crypto market capitalization has declined by 2.8% to $3.23 trillion, while Bitcoin's market cap stands at approximately $2.06 trillion, with trading volumes stabilizing around $161 billion.