MarketPR
Bitcoin slid to the $61,000–$62,000 range after U.S. strikes on Iran triggered more than $400 million in forced liquidations across crypto markets, with long positions accounting for over $300 million of that washout.
The macro pile-on continues: May CPI data lands at 12:30 UTC, and a $250 billion-oversubscribed SpaceX IPO is pulling capital allocation decisions that are already showing up in crypto order books.
The Liquidation Mechanism The sell-off was not organic price discovery — it was a cascade of margin calls.
When Trump ordered what he described as proportional strikes against Iran before signaling a potential deal was "days away," the brief calm that had supported recent highs fractured.
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