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Bitcoin fell 7% in 24 hours.
The biggest single-day drop since February.
The headlines blamed Iran.
The chart tells a different story.
→ BTC broke down to $65,385, which was a 9-week low
→ $4,500+ shed in a single session
→ $1.83 billion in total liquidations
→ Over 90% of them were long positions
The US-Iran strikes added fuel.
But the fire was already lit by leverage.
The move was less about geopolitics and more about "leveraged liquidations, heavy ETF outflows, and technical breakdowns."
Iran just amplified the fear.
This is the part of the cycle most retail traders never see coming.
When everyone is positioned long, a single catalyst like a war, a Fed comment, an ETF outflow print can flush out billions
before anyone has time to react.
Real support now sits at $64K–$65K.
A de-escalation or macro rebound could spark a relief rally from here.
What's your take on this?
Let us know in the comments 👇