- Bitcoin fell to ~$65,800, its lowest price since March 2, as geopolitical tension around the Iran war rattled cryptocurrency and equity markets.
- Major crypto stocks like MicroStrategy (MSTR) and BitMine Immersion Technologies (BMNR) hit monthly lows, with Robinhood (HOOD) shares plunging over 50% in six months.
- Data shows over $500 million in crypto positions were liquidated in 24 hours, with nearly 90% coming from long positions, while prediction markets now favor a drop to $55K for Bitcoin.
Crypto markets tumbled Friday amid deepening uncertainty from the Middle East conflict, dragging Bitcoin and related stocks to multi-week lows. The sell-off followed Israel’s pledge to escalate attacks after U.S. President Trump paused a planned assault on Iranian energy sites.
Consequently, Bitcoin recently traded at $65,804, down over 4% and marking its lowest price since March 2. Other major cryptocurrencies like Ethereum and Solana fell roughly 4-5%, reflecting a broad market retreat.
Meanwhile, CoinGlass data reveals over $500 million worth of crypto positions were liquidated in the past day. Nearly 90% of this carnage originated from leveraged long bets, underscoring the intensity of the market reversal.
MicroStrategy, the largest corporate Bitcoin holder, saw its stock (MSTR) drop more than 5% to below $126. The top Ethereum treasury firm, BitMine Immersion Technologies, similarly hit a monthly low, trading just above $18.42.
The trading platform Robinhood (HOOD) also fell to a monthly low, with its stock now down more than 50% over the last six months. This decline mirrored broader stock indices, with the Nasdaq falling 1.5% as of writing.
However, market sentiment has shifted starkly bearish in a matter of days. Users on the prediction market platform Myriad now pencil in a 64% chance Bitcoin’s next major move is down to $55,000 rather than up to $84,000.
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