Bitcoin experienced a dramatic plunge to $63,000 on Saturday following military operations conducted jointly by the United States and Israel against Iran that resulted in the death of Ayatollah Ali Khamenei.
Following official confirmation, Bitcoin initiated its recovery phase. By the early hours of Sunday, BTC had surged back to $68,200 on the Coinbase exchange.
Approximately 157,000 trading positions were forcibly closed during this turbulent 24-hour window, with aggregate liquidations hitting $657 million, distributed almost equally between leveraged long and short positions, per CoinGlass data.
However, Bitcoin erased it’s gains by Monday morning, trading around $65,300, down by 2.45% whereas Ethereum was changing hands around $1912, down by 2.8% in past 24 hours.
If markets interpret Khamenei’s death as raising the probability of regime destabilization or disruption to supply routes, energy prices could spike, pressuring global inflation expectations and tightening financial conditions. That would typically weigh on risk assets, including crypto.
However, if traders believe succession mechanisms will stabilize decision-making and avoid broader war, risk assets may continue to find support.
You need to login in order to Like
Leave a comment