Bitcoin Drops Below $73K as Fresh US Strikes on Iran Trigger $293M Liquidations

Bitcoin slipped below $73,000 on June 1 after renewed U.S. strikes on Iranian targets reignited geopolitical risk and triggered $293 million in crypto liquidations. The month-long saga began with a $60 billion sell-off and $415 million in long liquidations mid-May amid Hormuz shipping threats that pushed oil above $100. Hopes for a 60-day ceasefire extension briefly lifted prices and recovered $75 billion in market cap, yet renewed strikes, persistent ETF outflows exceeding $2.8 billion, and oil spikes capped recovery. Prediction markets priced a permanent deal this month at just 37%.