Liquidations jump to $547 million as oil rally hits crypto market
Bitcoin fell below $84,000 as oil climbed on Iranian tanker attacks, while smaller tokens fell harder and liquidations rose to $547 million.
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Summary
- Bitcoin fell below $84,000 after Iran stepped up attacks on tankers in the Strait of Hormuz, sending Brent above $101 a barrel and lifting Treasury yields and the dollar.
- Losses ran deeper among smaller tokens, with the CoinDesk 80 down nearly 4% over 24 hours, while liquidations climbed 235% to $547 million.
- Optimism’s OP fell 10% to lead the CoinDesk 100 lower after Pudgy Penguins’ Abstract became the second Ethereum layer-2 network to shut down in a week.
