Bitcoin Falls 1% to $63,100 as Iran-U.S. Hormuz Clash Triggers $253 Million Liquidations
Updated
Updated · CoinDesk · Jul 13
Bitcoin Falls 1% to $63,100 as Iran-U.S. Hormuz Clash Triggers $253 Million Liquidations
1 articles · Updated · CoinDesk · Jul 13
Summary
Bitcoin slid to $63,100 from above $64,300 at the weekly close, while Lighter's LIT token dropped 8% in its first major pullback after a 200% two-month rally.
$253 million in 24-hour crypto liquidations hit the market, with longs accounting for 76% of the total; BTC and ETH led the wipeout at $70 million and $60 million.
Iran-U.S. airstrikes tied to the Strait of Hormuz drove the broader risk-off move, knocking South Korea's Kospi down 9.2% and pushing Nasdaq 100 futures 0.9% lower.
Derivatives positioning still looked restrained despite the selloff: bitcoin open interest held at $17 billion, three-month basis stayed at 3.8%, and options remained call-heavy at a 64/36 put-call split.
A few pockets resisted the downturn, with AI-linked FET and NEAR up about 1.5%, suggesting the pullback was driven more by geopolitics and profit-taking than by a broad leverage buildup.