{"id":46682,"date":"2026-08-31T05:02:42","date_gmt":"2026-08-31T05:02:42","guid":{"rendered":"https:\/\/financialrush.com\/?p=46682"},"modified":"2026-08-31T05:02:42","modified_gmt":"2026-08-31T05:02:42","slug":"bitcoin-dumps-below-77k-as-us-iran-strikes-resume-who-else-might-be-behind-the-drop","status":"publish","type":"post","link":"https:\/\/financialrush.com\/?p=46682","title":{"rendered":"Bitcoin Dumps Below $77K as US-Iran Strikes Resume: Who Else Might Be Behind the Drop?"},"content":{"rendered":"

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After jumping past $79,000 on Sunday evening, bitcoin entered the new business week on the wrong foot, slipping below $77,000 in an hour or so as geopolitical tensions returned to financial markets.<\/p>\n

The decline came amid renewed fighting between the United States and Iran, following nearly a month of relative calm as the US reportedly focused only on increasing economic pressure. US Forces struck<\/a> two Iranian launchers on the island of Larak on Sunday, while the latter retaliated with strikes against military targets stationed in Jordan.<\/p>\n

US President Trump’s AI video of how Kharg Island, Iran’s key oil region, is being<\/a> “blown to smithereens” didn’t help defuse the situation either.<\/p>\n

Oil Up, Asian Markets Down<\/h2>\n

Brent crude reacted immediately with a near-3% surge to over $90 per barrel, reviving concerns about another energy-driven inflation shock. This is particularly worrisome following Fed Chair Kevin Warsh’s hawkish speech<\/a> at Jackson Hole on Friday, as higher oil prices deteriorate the inflation picture.<\/p>\n

In contrast to oil, Asian stock markets headed south after the attacks went public, with Japan’s Nikkei falling by roughly 2%. South Korea’s Kospi and Chinese equities also turned red, while US and European stock futures followed suit. The Japanese yen weakened beyond 160 against the greenback.<\/p>\n

Bitcoin dipped below $77,000, losing over $2,000 of value. Additional pressure came from Wintermute, as on-chain data showed<\/a> that the entity transferred 5,100 BTC, worth almost $400 million, to Binance over the past two days, likely intending to sell.<\/p>\n

Although this transfer doesn’t guarantee that Wintermute has sold, recall that similar actions taken by the market maker last week resulted<\/a> in another leg down for BTC and the alts.<\/p>\n

Ethereum’s situation was even worse, as it plunged from over $2,500 to under $2,400 in an hour. Lookonchain reported<\/a> that a whale or an institution had deposited almost 41,000 ETH (worth over $100 million) onto exchanges, a move typically made before selling.<\/p>\n

Liquidations on the Rise<\/h2>\n

The sharp move south led to over $400 million in wrecked positions on a daily scale, with the lion’s share coming earlier this morning. Interestingly, ETH longs are responsible for almost $100 million, while BTC longs are just $62.60 million, according to CoinGlass.<\/p>\n

The single-largest wrecked position also involved the leading altcoin, with a trader getting liquidated for $6.12 million on Aster. In total, more than 100,000 over-leveraged traders were wiped out in the past day.<\/p>\n

<\/a>
Liquidation Data on CoinGlass<\/figcaption><\/figure>\n

 <\/p>\n

The post Bitcoin Dumps Below $77K as US-Iran Strikes Resume: Who Else Might Be Behind the Drop?<\/a> appeared first on CryptoPotato<\/a>.<\/p>\n\n
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