Bitcoin collapsed below $99,000. Liquidations exceeded $650 million.

GateUser-d29924af · 2025-06-22T22:27:21+00:00

On June 23, 2025, Bitcoin's price briefly reached $98,200, leading to over $650 million in liquidations due to ongoing geopolitical tensions. The cryptocurrency partially recovered to around $102,000, with a notable correction in altcoins as well, resulting in significant trader losses.

GateUser-d29924af

2025-06-22 22:27:21

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On the night of June 23, 2025, the price of Bitcoin briefly reached $98,200, according to TradingView. Against this backdrop, the daily volume of liquidations exceeded $650 million.

This drop was a continuation of the trend that started the previous day. Against the backdrop of escalating tensions in the Middle East, the price first fell below $101,000, and then dropped again by the end of June 22.

At the time of preparing this material, the price has partially recovered. Bitcoin is trading just below $102,000:

The overall market shows a similar situation. Most assets have also experienced a correction, particularly altcoins:

This, in turn, led to a wave of liquidations on futures contracts. A total of over 185,000 traders were affected, with the total loss in a day exceeding $650 million, predominantly from long positions:

The Fear and Greed Index has fallen by six points over the past 24 hours. The indicator is approaching the “red” zone:

It should be noted that the drop in Bitcoin is due to the correlation of the asset with the stock market, which is subject to macroeconomic factors. A likely cause of the new downward impulse was the news that Iranian authorities are considering the possibility of blocking the Strait of Hormuz.

It connects the Persian Gulf with the Oman Sea and the Arabian Sea. Up to 20% of the world’s oil traffic passes through this strait. Its blockage could lead to a rise in oil prices and, consequently, inflation in the USA, by some forecasts, up to 5%.

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