$660M Liquidated as Bitcoin Crashes on Trump-Iran Escalation Fears
The total bearish pattern that started following the rejection at $82,000 on Thursday night worsened prior to now 12 hours when one other leg down drove BTC to a recent multi-week low of $76,650 (on Bitstamp).
The most evident purpose for this was the brand new set of threats from US President Donald Trump towards Iran. Even the reported deal between the US and China couldn’t save BTC.
New Threats
Although the ceasefire between the 2 sides was prolonged a number of weeks in the past, there was little to no progress on placing an precise and everlasting peace deal. In reality, every proposal despatched by Iran has been rejected by the Trump administration, with one of many newest deemed “completely unacceptable.”
He went additional just lately, indicating that the ceasefire is hanging by a thread, and returned his focus to the battle after the journey to Beijing concluded. In a recent submit on Truth Social, Trump warned that Iran’s clock is ticking. He urged them to “higher get transferring, FAST, or there received’t be something left of them,” earlier than including that “TIME IS OF THE ESSENCE.”
This message got here hours after the Times of Israel reported that Trump had met with Israel’s Prime Minister Benjamin Netanyahu on Sunday to debate the battle developments.
As talked about above, BTC slipped to only below $76,700 for the primary time for the reason that begin of the month after a quiet Sunday. The liquidations rocketed to over $660 million on a 24-hour scale, whereas greater than $610 million got here in 1-2 hours when BTC and the remainder of the market crashed after the aforementioned assertion. Thus, the cryptocurrency is down by over $5,000 for the reason that Thursday night peak of $82,000.
US-China Deal
After Trump’s go to to Beijing concluded, the 2 sides revealed contradicting statements on whether or not they had reached any offers or not. The most up-to-date, cited by The Kobeissi Letter, indicated that China had certainly agreed to a number of US calls for, together with an preliminary buy of 200 American-made Boeing plane for native airways, shopping for at the very least $17 billion per 12 months of US agricultural merchandise in 2026, 2027, and 2028, and extra.
However, none of these managed to influence the crypto market positively, however extra volatility is anticipated later this week resulting from these four factors.
BREAKING: The White House broadcasts a number of US-China commerce offers and developments following President Trump’s assembly with China’s President Xi.
Details embody:
1. China will handle US considerations relating to provide chain shortages associated to uncommon earths and different essential…
— The Kobeissi Letter (@KobeissiLetter) May 18, 2026
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