Bitcoin’s price experienced extreme volatility following conflicting statements between former U.S. President Donald Trump and Iranian officials regarding diplomatic talks. After Trump claimed productive conversations paused military actions, Iran denied any contact, causing BTC to spike then drop nearly $2,000. This market turmoil led to over $800 million in daily liquidations, affecting more than 200,000 leveraged traders according to available data.
The cryptocurrency markets reacted sharply to major global developments within a single hour. Bitcoin’s price surged by approximately $3,000 minutes after a social media post from former President Donald Trump.
Trump stated he and his team conducted successful talks with Iran’s leaders, agreeing to a five-day pause on military operations against power plants. “There has been no indirect or direct contact with President Trump,” Iran stated immediately after the post went viral. Iranian officials further alleged Trump was trying to “buy time” in a war not progressing as promised, as reported by The Kobeissi Letter.
They claimed Trump “withdrew” from attacks after firm warnings and said the Strait of Hormuz would not return to normal amid psychological warfare. Bitcoin instantly retraced its gains following Iran’s denial of any contact.
The asset touched a multi-day peak near $71,500 before falling back to around $70,000. This volatility continued to harm over-leveraged market participants significantly.
More than 200,000 traders were liquidated in the past 24 hours. The total value of these liquidations rose to $800 million daily, according to CoinGlass data.
