{"id":220602,"date":"2026-08-31T04:53:14","date_gmt":"2026-08-31T04:53:14","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=220602"},"modified":"2026-08-31T04:53:14","modified_gmt":"2026-08-31T04:53:14","slug":"bitcoin-dumps-below-77k-as-us-iran-strikes-resume-who-else-might-be-behind-the-drop","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=220602","title":{"rendered":"Bitcoin Dumps Below $77K as US-Iran Strikes Resume: Who Else Might Be Behind the Drop?"},"content":{"rendered":"

After jumping past $79,000 on Sunday evening, bitcoin entered the new business week on the wrong foot, slipping below $77,000 in an hour or so as geopolitical tensions returned to financial markets.<\/p>\n

The decline came amid renewed fighting between the United States and Iran, following nearly a month of relative calm as the US reportedly focused only on increasing economic pressure. US Forces struck<\/a> two Iranian launchers on the island of Larak on Sunday, while the latter retaliated with strikes against military targets stationed in Jordan.<\/p>\n

US President Trump\u2019s AI video of how Kharg Island, Iran\u2019s key oil region, is being<\/a> \u201cblown to smithereens\u201d didn\u2019t help defuse the situation either.<\/p>\n

Oil Up, Asian Markets Down<\/h2>\n

Brent crude reacted immediately with a near-3% surge to over $90 per barrel, reviving concerns about another energy-driven inflation shock. This is particularly worrisome following Fed Chair Kevin Warsh\u2019s hawkish speech<\/a> at Jackson Hole on Friday, as higher oil prices deteriorate the inflation picture.<\/p>\n

In contrast to oil, Asian stock markets headed south after the attacks went public, with Japan\u2019s Nikkei falling by roughly 2%. South Korea\u2019s Kospi and Chinese equities also turned red, while US and European stock futures followed suit. The Japanese yen weakened beyond 160 against the greenback.<\/p>\n

Bitcoin dipped below $77,000, losing over $2,000 of value. Additional pressure came from Wintermute, as on-chain data showed<\/a> that the entity transferred 5,100 BTC, worth almost $400 million, to Binance over the past two days, likely intending to sell.<\/p>\n

Although this transfer doesn\u2019t guarantee that Wintermute has sold, recall that similar actions taken by the market maker last week resulted<\/a> in another leg down for BTC and the alts.<\/p>\n

Ethereum\u2019s situation was even worse, as it plunged from over $2,500 to under $2,400 in an hour. Lookonchain reported<\/a> that a whale or an institution had deposited almost 41,000 ETH (worth over $100 million) onto exchanges, a move typically made before selling.<\/p>\n

Liquidations on the Rise<\/h2>\n

The sharp move south led to over $400 million in wrecked positions on a daily scale, with the lion\u2019s share coming earlier this morning. Interestingly, ETH longs are responsible for almost $100 million, while BTC longs are just $62.60 million, according to CoinGlass.<\/p>\n

The single-largest wrecked position also involved the leading altcoin, with a trader getting liquidated for $6.12 million on Aster. In total, more than 100,000 over-leveraged traders were wiped out in the past day.<\/p>\n

<\/a>Liquidation Data on CoinGlass<\/p>\n

\u00a0<\/p>\n

The post Bitcoin Dumps Below $77K as US-Iran Strikes Resume: Who Else Might Be Behind the Drop?<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

After jumping past $79,000 on Sunday evening, bitcoin entered the new business week on the wrong foot, slipping below $77,000 in an hour or so as geopolitical tensions returned to financial markets. The decline came amid renewed fighting between the United States and Iran, following nearly a month of relative calm as the US reportedly […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-220602","post","type-post","status-publish","format-standard","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/220602"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=220602"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/220602\/revisions"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=220602"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=220602"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=220602"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}