Geopolitics and Oil Sink Bitcoin: $550M in Liquidations
- —Brent crude rose above $101 amid attacks near the Strait of Hormuz
- —About $550 million in positions liquidated in 24 hours, $487 million were longs
- —U.S. spot Bitcoin ETFs saw $119 million inflow, then $487 million outflow
- —Roughly 20% of global petroleum liquids historically transits Hormuz
Why it matters: It shows Bitcoin still trades as a high-beta liquidity asset, vulnerable to macro shocks and geopolitics.
Source: Crypto Economy
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