BTC Surges 3.47% After Middle East Tensions Spark $1B Crypto Liquidations and Brief Price Dip

Bitcoin (BTCUSDT) saw significant volatility over the past 24 hours, primarily driven by heightened geopolitical tensions in the Middle East, including US airstrikes on Iranian nuclear sites and the temporary closure of the Strait of Hormuz by Iran. These developments triggered a sharp risk-off sentiment across global markets, resulting in over $1 billion in cryptocurrency liquidations and a brief drop in Bitcoin’s price below $100,000. However, as of the latest Binance data, Bitcoin has rebounded to $102,874.85, representing a 3.47% increase from the previous 24-hour open of $99,427.98, as the market partially recovered from initial losses.

Currently, Bitcoin’s trading volume remains robust, with the broader crypto market cap near $3.2 trillion and Bitcoin maintaining a dominant share. The asset’s circulating supply is approximately 19.88 million BTC. Despite ongoing volatility and cautious sentiment due to geopolitical uncertainty and tightening supply on exchanges, Bitcoin continues to lead market activity with strong liquidity and global investor attention.