Bitcoin surged roughly 5% in under an hour, climbing from just above $65,000 to nearly $69,000 ahead of US President Donald Trump’s scheduled speech on the escalating conflict with Iran.
The sharp move higher marked a multi-day peak for the leading cryptocurrency, as traders positioned for potential geopolitical developments following renewed US warnings and military activity in the region.
Trump said that while the US had already used substantial force against Iran, “the big wave” was yet to come.
Altcoins also rallied strongly, with ether pushing back above $2,000, Solana approaching $90 and XRP and BNB each gaining more than 4% within the same hour.
The broader rebound followed heightened volatility over the weekend after coordinated US and Israeli strikes on Iran and subsequent retaliatory actions across the Middle East.
Crypto liquidations surpassed $400 million over 24 hours, reflecting intensified leverage unwinds across derivatives markets.
Short positions accounted for roughly $80 million in liquidations in the past hour compared with less than $5 million for longs, signalling a rapid shift in trader positioning as markets reacted to geopolitical headlines.
At the time of reporting, Bitcoin price was $69,062.68.