Key facts
- Over $2.2 billion in crypto options were set to expire.
- The crypto market saw $192 million in liquidations following the postponement of US-Iran talks.
- Over $101 million of the liquidations were from long positions.
- Ethereum and Bitcoin saw the largest portions of liquidations.
- The postponement of US-Iran talks increased market volatility.
The cryptocurrency market experienced significant liquidations totaling over $192 million, primarily affecting long positions, following the postponement of planned US-Iran talks. This uncertainty coincided with a large volume of options contracts for Bitcoin, Ethereum, XRP, and Solana expiring.
According to CoinGlass data, over $101 million of the liquidations stemmed from long trades as geopolitical tensions weighed on the market. Ethereum saw the highest liquidations at over $43 million, followed by Bitcoin at nearly $41 million, and XRP long traders losing more than $3 million.
The delay in follow-up talks between Washington and Tehran, which were scheduled for Friday in Switzerland, increased volatility. US Vice President JD Vance canceled his trip, with the White House citing complex and unpredictable negotiation logistics. Swiss authorities confirmed the postponement but indicated preparations for future discussions are ongoing.
The delay occurred days after the US and Iran reportedly signed a Memorandum of Understanding to suspend hostilities and resume diplomatic relations, including pledges for regional stability and sanctions relief. However, the situation in the Middle East remained tense, with ongoing strikes between Israel and Hezbollah preceding a confirmed ceasefire.
Differences in statements from Iranian and US leaders added to the market's unease. Iran's Supreme Leader, Mojtaba Khamenei, approved the deal but expressed a 'different view,' while US President Donald Trump denied negotiating from a weak position. This geopolitical uncertainty sent Bitcoin to the $62,000 level before stabilizing.