Cryptocurrency Market Reacts to Escalating US-Iran Hostilities

The cryptocurrency market experienced mixed trading on Monday as escalating US-Iran hostilities weighed on investor sentiment. Bitcoin traded in the $65,000 area, but its 24-hour volume rose by a substantial 92%.

Ethereum faced resistance around the $1,915 price point and edged lower, while XRP made gains. Over $245 million in cryptocurrency positions were liquidated over the past 24 hours, with bearish shorts taking the heaviest losses.

According to Coinglass data, Bitcoin's open interest increased by 2.20% over the last 24 hours. Retail derivatives traders on Binance turned neutral on Bitcoin, while whales remained bullish.