Bitcoin Gets Clobbered Back Below $66K as Trump Pumps the Brakes on Iran Strikes—And Traders Lose $200M in the Process

Bitcoin decided to take a trip back to $65,000 territory on Friday, because apparently nothing says "safe haven asset" quite like getting absolutely pancaked whenever the Middle East gets spicy. Investors kept slicing their risk exposure like a sushi chef, with the latest round of geopolitical theater keeping oil prices elevated, Treasury yields doing their best impression of a rocket launching (but in the wrong direction for bulls), and the dollar flexing harder than a gym bro on spring break.

According to CryptoSlate's data, BTC dumped nearly 5% to around $66,484, marking its lowest price since the beginning of the month. For those keeping score at home, that's roughly a $3,000 haircut in fiat terms—a reminder that Bitcoin's price action has more failed resistance levels than a meme coin has rug pulls.

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." In plain English: the range is holding tighter than a diamond-handed HODLer refusing to check their portfolio at 3 AM.

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. That's right, degens—the usual suspects got rekt. Hope those leverage tokens were worth it during morning coffee.

In a post on Truth Social, President Donald Trump revealed 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. Nothing says "peace in our time" like threatening to blow up oil facilities and then hitting snooze on the apocalypse—twice.

The 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 territory after falling 11% from its recent high. Meanwhile, your 401(k) is out here doing jumping jacks while your crypto portfolio is doing something closer to a crying emoji.

Meanwhile, the dollar was heading for its strongest month since July 2025 as investors sought safety and markets priced in