Bitcoin falls below $62,000, and Ethereum dips to $1,750! In the past 24 hours, total liquidations across the entire network reached $377 million, as the escalation of the conflict between Iran and the U.S. sparks the rally.

Geopolitical crisis. The macro negative impact comes from the U.S.-Iran conflict escalating again, putting the cryptocurrency market under strong selling pressure. In Taiwan time on July 14 at around midnight, Bitcoin (BTC) plunged sharply, breaking below the $62,000 level. Ethereum (ETH) also slid, moving toward $1,750. According to CoinGlass data, over the past 24 hours, the total value liquidated across the entire network reached as much as $377 million, with nearly 90,000 investors facing liquidation.
（Background: Is the U.S. government going to sell Bitcoin? A dormant wallet wakes up after 4 years, transferring 8.79 million USD in BTC to Coinbase）
（Background addition: A “death cross” appears on the Bitcoin weekly chart! Analysts: The bull market may strike with a surprise explosion “in September this year”）

The Middle East geopolitical crisis once again dealt a blow to global risk-asset markets. As the U.S.-Iran conflict further escalated, the cryptocurrency market at around midnight on July 14 in Taiwan time suffered intense panic-driven selling pressure.

First, Bitcoin (BTC) saw a sharp drop in a short period of time, losing the important psychological $62,000 threshold; meanwhile, Ethereum (ETH)’s decline was similarly brutal, with the price continuing to slide down toward $1,750 (as of the time of this release).

Nearly 90,000 people liquidated; the largest single liquidation order hits $4.86 million

Intense price volatility turned the crypto derivatives market into a bloodbath. According to CoinGlass data, within the past 24 hours (as of the 14th), the global crypto market saw as many as 89,940 investors get liquidated in total, with the total liquidation value across the network reaching an astonishing $377 million.

Notably, in this round of plunge, the largest single liquidation order occurred on the decentralized derivatives exchange Hyperliquid. The liquidation value of the XYZ:SKHX-USD trading pair was as high as $4.86 million, highlighting the devastating impact that high-leverage positions face when the market confronts sudden war-related negative news.