Bitcoin Drops Below $76,500 Amid U.S. Airstrikes on Iran and Rising Oil Prices

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BTC
$81,257.60-0.68%
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ETH
$2,640.37-0.45%
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TRX
$0.34421.32%
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UNI
$8.76-0.53%
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On-chain data shows Bitcoin fell below $76,500 as U.S. strikes on Iran drove oil prices higher and Treasury yields approached 4.8%. The asset dropped over 1% since midnight and lost 3% over the week. Coinglass reported that short traders accounted for 51.5% of 24-hour trading volume, with open interest remaining near 700,000 BTC, indicating limited leverage growth. ETH futures open interest rose slightly during the decline, interpreted as short accumulation. UNI continued to rise, TRX faced sustained shorting, and implied volatility for BTC and ETH returned to earlier levels.

Huo Xing Finance reports, according to CoinDesk, following increased U.S. military airstrikes on Iranian targets, Brent crude surged above $93 per barrel and WTI neared $90 per barrel, pushing the 10-year U.S. Treasury yield up to nearly 4.8%. Risk assets came under pressure, with Bitcoin briefly falling below $76,500, dropping over 1% since midnight and posting a roughly 3% correction over the past seven days. In derivatives markets, Coinglass data shows that the 24-hour long/short taker trading ratio shifted in favor of shorts, accounting for approximately 51.5%, while open interest remained steady at around 700,000 BTC, indicating no significant increase in leverage. The slight rise in ETH futures open interest alongside a price decline was interpreted as accumulation of short positions. UNI continued its upward trend, while short positions in TRX remained heavily crowded. Implied volatility for BTC and ETH has retreated to previous levels.

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