Bitcoin Drops Toward $76,466 Amid Middle East Strikes and Crypto Security Breaches

Bitcoin tumbled toward $76,466-$77,042 as military strikes on Iran's Qeshm Island and major exchange security breaches sparked sharp selling in risk assets. The cryptocurrency previously dropped 1.9% to trade near $76,950, falling below the $77,140 short-term holder cost basis. Heightened geopolitical tensions pushed Brent crude over 1.6% higher to above $106.95 per barrel before trading near $105. Market turmoil triggered $382.48 million in crypto liquidations, including $341.81 million in long positions, while total digital asset capitalization fell 1.7%. Sentiment deteriorated further following a $6.3 billion security breach at Binance alongside incidents at Mercado Bitcoin and Polymarket.