Risk appetite weakened in global markets today, and the cryptocurrency market turned red due to geopolitical tensions. Declines were particularly noticeable in major assets, especially Bitcoin and XRP.
This negative market sentiment came after US President Donald Trump postponed the deadline for potential military action against Iran to April 6. While this decision signaled a temporary extension for negotiations, the continued uncertainty has pushed investors into a cautious position. Although Trump claimed the talks were progressing well, reports that the Iranian side was hesitant to engage in negotiations and that the Pentagon was considering additional troop deployment options increased the risks.
On the other hand, disruptions in the Strait of Hormuz, which is critically important for global energy markets, increased concerns about oil supply and intensified pressure on the markets. With these developments, oil prices continued to rise, while US futures indices and crypto assets entered a downward trend.
Selling pressure has spread widely in the crypto market. Bitcoin fell to its lowest level in two weeks, dropping to $65,928 and losing approximately 4% in the last 24 hours. Ethereum similarly declined by 3.8%, falling to $1,984.
The cryptocurrency derivatives market experienced heavy liquidations. In the last 24 hours, the total amount liquidated reached approximately $697 million, with $645.97 million of that coming from long positions.
*This is not investment advice.