Bitcoin retreats below $80,000, liquidating $300 million in futures bets

BTC fell under $80,000 after U.S. strikes in Iran sent oil briefly above $100, triggering liquidations and a shift toward bearish positioning.\nWhat to know : Bitcoin dropped below $80,000 after fresh U.S. airstrikes in Iran sparked a surge in oil prices and a broader risk-off move across crypto markets. Crypto traders unwound leverage aggressively, with futures open interest falling 1.5%, nearly $300 million in liquidations, and options flow shifting toward protective BTC puts. Despite weakness in majors and memecoins, DeFi tokens outperformed as ONDO jumped over 8% following a cross-border U.S. Treasury redemption involving JPMorgan, Mastercard and Ripple.