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Hormuz Tensions Drive Bitcoin Down 2.2% Amid $300 Million Crypto Liquidations

Escalating geopolitical tensions around the Strait of Hormuz recently impacted digital asset markets, with Bitcoin (BTC) experiencing a 2.2% decline, trading between $68,265 and $71,051 before stabilizing near $69,195. This macro stress event triggered significant derivatives activity, with total liquidations exceeding $300 million, an 80% increase, including over $123 million in BTC liquidations, according to CoinGlass. Ethereum also weakened by 2.1%, reinforcing broader market sensitivity to risk. Spot Bitcoin ETFs, which recorded $199 million in net inflows on March 17, saw a reversal with $163 million in outflows on March 18, reflecting short-term volatility despite sustained institutional interest.
BTC
BTC-1.47%
ETH
ETH-2.82%
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