Bitcoin tumbled to a multi-week low of $76,650 on Bitstamp on Saturday, after failing to hold above $82,000. The selloff accelerated following President Trump’s warning to Iran on Truth Social, triggering over $660 million in liquidations across crypto markets within 24 hours — with $610 million of that coming in a brutal one-to-two hour window.
The liquidation cascade
The bulk of the damage hit fast. More than $610 million in leveraged positions were wiped out shortly after Trump’s post, as traders rushed for exits. The total 24-hour liquidation figure crossed $660 million, according to data from Coinglass. Bitcoin’s rejection at $82,000 earlier in the week had already left the market fragile — the Iran news was the push that broke it.
Trump’s Iran warning
“TIME IS OF THE ESSENCE,” Trump wrote on Truth Social, urging Iran to “better get moving, FAST, or there won’t be anything left of them.” The post came after the president met with Israeli Prime Minister Benjamin Netanyahu to discuss war developments, the Times of Israel reported. Markets read the language as an escalation risk, and crypto — already sensitive to macro shocks — took the hit hardest.
Trade deals that didn’t help
The US and China announced multiple trade agreements this week, including China’s purchase of 200 Boeing aircraft and at least $17 billion per year in US agricultural products from 2026 through 2028. But the two sides issued contradictory statements on whether a full deal was actually reached, and the news failed to boost crypto prices. The market’s focus, for now, is squarely on Tehran.
What’s next
Bitstamp showed BTC trading around $77,000 late Saturday, well off its weekly highs. Traders are watching whether Trump’s rhetoric leads to concrete military action — and whether that would push Bitcoin lower or, as some argue, drive demand for a non-sovereign asset. No further statements from the White House have been scheduled, but the situation is fluid.
