US strikes on Iran trigger $1B in crypto liquidations, BTC drops to $72,840

Source: Phemex
Published: Jun 1, 2026
Ingested: 2026-06-02T10:12:01Z

US strike package targeting Iranian air-defense radar triggered ~$1B in total crypto liquidations across centralized venues.

Liquidation cascade:

1. Asian session: Reuters confirmed strikes on Iranian S-300 batteries. BTC $77,200 → $74,800 in 90min. ~$340M longs liquidated.
2. Three hours later: Tehran state TV aired damage footage. BTC $74,000 → $72,840. ~$480M additional liquidations + $180M ETH.

Recovery: BTC reclaimed $74,000 after Trump posted Strait of Hormuz blockade "lifting." IRGC retaliated with missile strikes on Kuwait's Ali Al Salem airbase.

Key levels: Support $72,800 / $69,400 / $66,800-67,200. Resistance $74,500-75,000 / $77,200.

Divergence: Spot BTC ETF flows turned positive (+$38M May 30, +$61M Jun 1) while price fell — historically marks tradeable bottoms.

Volatility: One-day realized vol hit 58 (highest since Feb). Deribit 1w ATM implied vol jumped from 38 to 71.