May 28: U.S.-Iran Strikes Trigger Liquidations, ETF Outflows, and Risk-Off Selling
Brief Summary:
Bitcoin fell below $73,000 this morning, hitting its lowest level since April 13 as U.S.-Iran strikes rattled global markets.
Brent crude jumped toward the mid-$90s, reviving inflation concerns and pressuring risk assets.
Crypto liquidations totaled roughly $958.8 million over 24 hours, with longs accounting for about $897 million.
Ethereum broke below $2,000 for the first time since late March, while Ether futures open interest hit a record 16.39 million ETH.
BlackRock’s IBIT saw $527.84 million in net outflows Wednesday, its second-largest single-day withdrawal since launch…
The skinny
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