During those few hours on Monday, the crypto market was truly chaotic. The moment Trump posted that he was delaying the attack on Iran, Bitcoin suddenly jumped from $67,500 to over $71,200, but right after that, reports came out denying everything, and it immediately dropped by $1,200. In just a few hours, it surged by $3,700 and then fell back by $1,200—a market that was really being tossed around.

Looking at the data, it seems that a total of $415 million in positions were liquidated in that short period. Short liquidations amounted to $15M, and long liquidations to $135 million, meaning traders holding both sides suffered significant losses. Bitcoin alone saw $140 million in liquidations, and Ethereum saw $120 million. Including crude oil futures, it really felt like the entire market was shaken.

Ultimately, in situations where headlines change rapidly, those using leverage are the ones who suffer the most. The pure price movement was only about 2%, but in the derivatives market, losses multiplied several times. As of Monday evening, Bitcoin was trading around $70,000, but looking at the price swings during the day, it’s clear how much geopolitical news can shake the market.