Bitcoin Hits 40-Day High As US-Iran Tensions Trigger $113M In Short Liquidations

A potential US military strike on Iran’s main oil export terminal helped push Bitcoin to its highest price in over a month Monday, as traders poured money into crypto while pulling back from stocks. Related Reading: WLFI Holders Face New 6-Month Lockup Rule To Gain Voting Power Squeeze At The Top Reports show Bitcoin jumped from roughly $72,400 to $74,320 in under 30 minutes — a move sharp enough to wipe out $113 million in short positions within the hour. Based on data from CoinGlass, around 94,612 traders were liquidated in the last 24 hours, the total liquidations comes in at $385.48 million. Short sellers, who had bet on prices falling, were forced to buy back their positions as the price climbed, which pushed it even higher. By early afternoon, Bitcoin was trading near $73,900, up 2.7% on the day. War Fears, Oil Shocks, And A Crypto Bounce The backdrop was anything but calm. US President Donald Trump has been pushing allies — including Britain and Japan — to help form a coal