On Monday, there was complete chaos in the crypto markets. When conflicting news about US-Iran tensions was released, Bitcoin suddenly surged from $67,500 to $71,200. Everyone was in long positions. But then Iran denied the news, and Bitcoin rapidly dropped back by $1,200. This fluctuation resulted in liquidations totaling $415 million in just four hours. $280 million was liquidated in short positions, and $135 million in long positions.

Ethereum and tokenized oil contracts also took heavy hits. Bitcoin saw $140 million in liquidations, Ethereum $120 million. Brent crude futures on Hyperliquid were cleared at around $64 million. Investors had bet that Trump would delay the attack on Iran’s nuclear facilities; they were right, but after Iran’s denial, they couldn’t maintain their positions.

During the Asian session, Bitcoin traded between $67,500 and $68,500. After Trump’s Truth Social post, it rose $3,700 in one hour. But it pulled back after Iran’s statement. On Monday evening, Bitcoin stabilized near $70,000. Today, it is trading at $73,630, down slightly by 1.26%.

In fact, this event shows how fragile derivative markets are. When futures trading volume is five times higher than spot trading, every headline triggers liquidation chains in both directions. Although the net price movement appears moderate, the real losses for leveraged traders are much heavier. Geopolitical uncertainty and news flow trigger this volatility, especially as moves by major economic powers like the US shake the market.