Bitcoin falls to $76,711 amid U.S.-Iran conflict, Ether, Solana slide
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Bitcoin slid to $76,711 on Monday, its lowest in two weeks, as traders backed away from risky assets due to worries over the U.S.-Iran conflict.
The fall below the key $77,800 support level dragged down other big names like Ether and Solana, too.
Heavy selling wipes $550 million longs
Heavy selling led to $550 million in bullish crypto positions being wiped out during early Asian hours, per Coinglass.
Bitcoin ETFs saw more than $1 billion pulled out last week, the most since late January.
Traders are watching the $77,500 mark closely and picked up about $38 million in put options for May 18, signaling caution.
Analyst Rachael Lucas says support sits around $76,000 to $76,800 and a close above $80,000 could ease the pressure.