Crypto markets tumble as oil surges and traders pile into bearish bets: Crypto Markets Today

Bitcoin and ether fell sharply alongside global risk assets after escalating tension in Iran drove oil higher, while derivatives data shows traders positioning for further downside. What to know : Crypto fell after renewed geopolitical tensions pushed oil up by 10% and weighed on equities, strengthening the dollar and driving a broader risk-off move. Funding rates turned deeply negative and open interest rose, indicating traders are actively shorting BTC and ETH; liquidations hit nearly $400 million. Despite the drop, implied volatility remains stable and options markets show sustained demand for downside protection rather than panic selling.