Bitcoin's wild roller coaster ride leaves leveraged traders with $415 million in liquidations

Bitcoin swung from $67,500 to $71,200 and back to $70,000 in a single session as Trump said he was postponing Iran strikes, then Iran denied any communication was taking place. What to know : More than $400 million in crypto positions were liquidated in four hours on Monday as traders were whipsawed by conflicting headlines about U.S.-Iran tensions. Bitcoin briefly surged from about $67,500 to above $71,200 after Donald Trump claimed he had ordered a five-day pause on strikes against Iranian power plants, then quickly pared gains when Iran denied any communication. The liquidations, led by bitcoin, ether and tokenized oil contracts, underscored how derivatives-heavy markets can turn modest net price moves into severe losses for leveraged traders when news shifts rapidly.(Coindesk)