Bitcoin Drops Below $80,000 Amid Escalating Middle East Tensions and Heavy Liquidations

Bitcoin traded down to around $79,464 on Saturday, breaking below the $80,000 threshold to reach its lowest level since mid-September. The decline followed rising geopolitical risks in the Middle East, where the U.S. issued travel advisories and initiated evacuations over intelligence warning of potential Iranian attacks on American personnel. The sell-off triggered extensive derivative wipeouts, driving 24-hour crypto liquidations to $837.12 million across more than 227,000 traders, with long positions making up $693.05 million. Total cryptocurrency market capitalization contracted 4.06% to $2.72 trillion as major altcoins suffered steep declines.