Bitcoin dropped sharply below $73,500 after U.S. President Donald Trump denied reports about a deal to restore shipping traffic through the Strait of Hormuz. The decline triggered over $270 million in crypto liquidations within one hour, with long traders losing nearly $264 million. Markets also reacted to reports of new U.S. strikes targeting Iranian drone operations near the Strait.The move matters because rising Middle East tensions are increasing uncertainty across global markets. Traders are now watching whether geopolitical risks continue pushing Bitcoin and other crypto assets lower.
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