BTC Surges 4.4% Amid $1 Billion Liquidations as Geopolitical Tensions Drive Crypto Volatility

BTCUSDT experienced significant volatility in the last 24 hours, primarily driven by escalating geopolitical tensions in the Middle East following U.S. military actions against Iranian nuclear sites. This triggered a sharp sell-off across the crypto market, resulting in over $1.01 billion in total liquidations—$903 million of which were long positions—including a $35.45 million liquidation on HTX. The heightened risk sentiment was further influenced by concerns over potential disruptions to global oil shipping routes, particularly the Strait of Hormuz.

On Binance, BTCUSDT is currently trading at $103,666.84, reflecting a 4.40% increase from the 24-hour open of $99,294.19, with active trading volumes and continued dominance in market capitalization. Despite recent intraday and weekly volatility, Bitcoin remains the leading cryptocurrency by market cap and liquidity, with nearly all supply in circulation and robust trading activity.