Bitcoin drops toward $65k after new Trump Iran delay sends oil higher, triggering $200M wipeout

Bitcoin fell back toward $65,000 on Friday as investors cut exposure to risk assets after another round of Middle East tensions kept oil prices elevated, pushed Treasury yields to their highest levels in months, and lifted the dollar. According to CryptoSlate's data, BTC dumped nearly 5% to around $66,484, its lowest price since the beginning of the month. This continues a trend in which the top crypto repeatedly fails to hold when macro pressure returns. An analyst at Bitunix told CryptoSlate: “BTC has fully transitioned into a reflector of liquidity structure. Price action remains confined within a broad $65,000–$72,000 range, with volume distribution showing clear supply overhead above $70,000, while the $65,000 region continues to accumulate passive demand.” Data from CoinGlass showed that the price action wiped nearly $200 million from crypto traders within the past hour, with long traders bearing most of the losses. Crypto Market Liquidation in The Last 1 Hour on March 27 (Source: CoinGlass) Why is Bitcoin price falling? BTC's current slide did not come from a crypto-specific shock. Instead, the downturn can be linked to geopolitical tensions that have rattled the global market. Related Reading Bitcoin price just collapsed because the macro selloff collided with a $14 billion options expiry this morning Roughly $14.1B in Bitcoin options and $2.2B in Ethereum options expired on Friday, Mar. 27. History suggests more volatility around expiry. Mar 27, 2026 · Gino Matos In a post on Truth Social, President Donald Trump revealed that he was postponing plans to destroy Iran's energy plants by another 10 days, extending the deadline to April 6 as talks continued. This represented the second significant pause he had introduced amid the ongoing conflict with Iran. The new announcement rattled global markets, with Brent crude rising toward $110 a barrel, the US 10-year Treasury yield climbing to 4.456%, its highest since July, and the Nasdaq remaining in correction t...