Bitcoin surrendered last week's gains Sunday, falling below $69,200 amid escalating Middle East tensions. President Donald Trump issued a 48-hour ultimatum to Iran, threatening strikes on power plants if the Strait of Hormuz remains closed to commercial shipping.
The rhetoric shift whipsawed markets, triggering $299 million in liquidations across 84,000 traders. Long positions accounted for 85% of the damage. Major tokens fell in lockstep as oil flows remain disrupted. Investors are paying record premiums for downside protection. VanEck data signals extreme caution despite recent stability.