🚨 Bitcoin’s Sudden $11K Crash: What Really Happened
In just one hour, Bitcoin plunged from its weekly highs near $76,000 to touch $65,000. Many dismissed it as a routine correction. It wasn’t.
The sell-off was triggered by geopolitical shockwaves. The collapse of the Iran de-escalation deal set off a chain of events:
- Iran escalated strikes on Persian Gulf infrastructure, including LNG terminals in Qatar.
- The U.S. issued a 48-hour ultimatum, threatening to block the Strait of Hormuz.
- Panic spread across global markets, pushing investors out of risk assets.
Crypto was not spared. $BTC often touted as a hedge, failed to hold its ground.
Within 24 hours, liquidations topped $240 million, and over $30 billion in market value evaporated in just 60 minutes.
Meanwhile, gold surged to 20% in 48 hours as central banks especially in Asia ramped up purchases, bracing for sanctions and potential dollar freezes.