Bitcoin Price Plummets Following Iran's Supreme Leader Assassination

A dramatic event shook the cryptocurrency market on Saturday when news broke about the assassination of Iran's Supreme Leader Ayatollah Ali Khamenei in a coordinated airstrike by the United States and Israel.

Bitcoin's price plummeted to $63,000 within hours of the announcement, marking an immediate and aggressive selloff. The sudden decline was followed by a rapid recovery as investors speculated that the event might signal an end to regional tensions, with Bitcoin rebounding to $68,200 on the Coinbase exchange.

The volatility triggered massive liquidations across leveraged trading positions, with approximately 157,000 traders seeing their positions forcibly closed within a 24-hour window. The total liquidation amount reached $657 million, distributed almost equally between bullish and bearish bets.