Bitcoin fell under $80,000 after fresh U.S. airstrikes in Iran sent oil prices above $100 per barrel, triggering a broader risk-off move in crypto markets. Nearly $300 million in leveraged futures positions were liquidated, and open interest declined by 1.5%. Options flow shifted toward protective puts, with increased activity at $80,000, $75,000, and $60,000 strike prices. The drop comes after a recovery from $65,000 in late March, though a fall below $75,000 could signal a return to previous trading ranges. Amid the weakness, DeFi tokens like ONDO outperformed, rising 8% after a cross-border U.S. Treasury redemption involving JPMorgan, Mastercard, and Ripple.

Key facts

• Bitcoin dropped below $80,000 after U.S. airstrikes in Iran drove oil above $100.
• Nearly $300 million in leveraged long positions were liquidated in 24 hours.
• Options flow shifted to protective puts at $80,000, $75,000, and $60,000 strikes.
• DeFi token ONDO surged 8% after a cross-border U.S. Treasury redemption.
• A drop below $75,000 would negate recent higher lows and signal range reversion.

KeyAudit data perspective