Tuesday's slide
The sell-off was sharp. Bitcoin slipped below $78,000, then broke $77,000 in quick succession. At press time it sat at $76,762. Ethereum fell below $2,400. The declines came as traders weighed the latest U.S. military action against Iranian targets.
Liquidations hit $115 million
The move triggered a wave of forced selling. Coinglass data shows roughly $115 million in long positions were liquidated within 60 minutes. That's a sign that leveraged traders were caught off guard.
The trigger: U.S. strikes on Iran
The drop is attributed to new U.S. military strikes against Iranian targets. The strikes are increasing pressure on global markets, and crypto moved lower along with the broader risk-off mood. The exact details of the strikes weren't immediately available. At press time, Bitcoin was at $76,762 and Ethereum was below $2,400.
