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Sharp Bitcoin price swings trigger $415M in liquidations
Bitcoin’s price moved from $67,500 to $71,200 within a single trading session before dropping to $70,000: first, Donald Trump announced a delay in strikes on Iran, and then Iran denied any negotiations.
On Monday afternoon, crypto traders faced sharp volatility, with liquidations of both long and short positions exceeding $400 million in just four hours.
Bitcoin surged from $67,500 to above $71,200 after U.S. President Donald Trump posted on Truth Social that he had instructed the Pentagon to delay strikes on Iran’s power plants for five days. He also stated that the U.S. and Iran had held “very good and productive negotiations.”
Later, Iran reportedly denied all such claims.
“There are neither direct nor indirect contacts with Trump,” Iran’s semi-official Fars news agency reported, citing an anonymous source.
The report also claimed that Trump “backed down after learning that all power plants in West Asia would become our targets.” Within minutes, Bitcoin lost around $1,200 from its peak.
According to CoinGlass, liquidations totaled $415 million in the four-hour window around the release of these two news events: $280 million came from short liquidations, while $135 million came from long positions. The nearly 2:1 ratio indicates that traders were largely positioned for escalation at the time of Trump’s statement.
Of the total liquidations, $140 million came from Bitcoin, $120 million from Ethereum (ETH), and $64 million from Brent oil futures on the Hyperliquid platform. Losses in tokenized gold amounted to $20.9 million, and tokenized silver to $19.8 million.
Crypto position liquidations (CoinGlass)
Meanwhile, oil market liquidations were almost entirely one-sided.
On the XYZ:BRENTOIL contract on Hyperliquid, $64.4 million was liquidated — mostly affecting long positions. These traders had expected Trump’s 48-hour ultimatum to result in strikes on Iranian power plants, not a delay. They correctly predicted the direction of the conflict but misjudged the content of the next Truth Social post.
During the Asian session, Bitcoin traded in the $67,500–$68,500 range, then surged by $3,700 within an hour following Trump’s statement, and later dropped by $1,200 after Iran’s denial.
By Monday evening, the price stabilized around $70,000 — up 2.3% from the start of the day. Bitcoin remained in the middle of the range formed during hours of news-driven volatility.
The trading session confirmed earlier Binance data showing that when derivatives volume exceeds spot trading volume by five times, any news can trigger cascading liquidations in both directions. Positive news compresses short positions, while negative developments trap long positions.
While the final price change was moderate, losses for leveraged traders were significant.
See also: "Bitcoin shows optimism at $70K level amid de-escalation with Iran"
