I just checked the charts and wow, the weekend was brutal for those who were long. Bitcoin plummeted to $74K that range now(, losing all of last week’s gains in a matter of hours. All because Trump issued a 48-hour ultimatum to Iran over the Strait of Hormuz, threatening to hit their power plants. Going from considering 'reducing' military operations to threatening civilian infrastructure in less than a day was too much for a market that was 100% bullish.

The liquidation numbers are wild: nearly $300 million in 24 hours, with 85% in long positions. Bitcoin only suffered $122 million in long liquidations. The ratio shows how much optimism had built up before the weekend; everything collapsed in minutes.

Everything fell together: Ether at $2.32K )-1.87% in 24h(, Solana at $83.10 )-3.10%(, XRP at $1.36, BNB at $613.50. Ironically, the Fed had kept rates steady on Wednesday with a dovish tone, which should have supported risk assets, but war headlines overshadowed everything. The deadline is Monday night. If there are no diplomatic surprises, we could see the first direct attack on civilian energy infrastructure, and that keeps traders nervous about making big bets in any direction.