Bitcoin fell to $76,000 during early Asian trading Monday after President Trump warned Iran the 'clock is ticking' on stalled peace negotiations. The 7% drop over three days erased all gains since May 1.
BTC/USD chart depicts a sharp decline from recent highs around $83,000, driven by geopolitical risk.
Over $607 million in long positions were liquidated across crypto markets in the past 24 hours, with Bitcoin longs alone accounting for $190 million.
Crude oil spiked above $103 per barrel before settling near $101 on supply fears tied to the potential conflict.
Analysts warn that if $76,000 support fails, Bitcoin could slide to $65,000, a 16% decline from current levels.
A local low at $65,000 coincides with an inverted V-shaped pattern target.
