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Bitcoin ($BTC) is clinging to $61,000-$62,000 after U.S. airstrikes on Iran flushed more than $400 million in crypto liquidations, with long traders absorbing over $300 million of the hit.
Three macro catalysts now bear down simultaneously: a U.S.-Iran conflict that President Trump described as "proportional" while hinting at a deal "days away," a May CPI print due at 12:30 UTC forecast at a three-year high of +4.2% year-over-year, and a SpaceX IPO now reportedly 3.5x to 4x oversubscribed with $250 billion in demand against a $75 billion target valuation.
Who Got Liquidated and Why It Matters The Iran escalation broke a fragile calm that had briefly propped $BTC near recent highs.
According to Coinglass data, more than $300 million of the $400 million liquidation total came from long positions — traders betting on upside who got forced out, not short sellers attacking the tape.
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