Crypto Remains Rangebound as Iran Tensions Trigger $300M Liquidations, March BTC Calls Build

Crypto prices held in a trading range amid escalating Iran tensions, with Bitcoin briefly touching $63,000 and Ethereum $1,910 before recovering, QCP reports. Following Saturday's U.S. strike, around $300 million in long positions were liquidated, though the impact remained contained, indicating reduced positioning and some flows into 24-hour assets such as tokenized gold. Options markets moved moderately, with 1-day implied volatility jumping to 93% while levels under 60% held; QCP recalls that after a similar strike last June, Bitcoin briefly traded below $100,000 before rebounding and later climbing to $123,000. Current call buying in March $74,000 and $75,000 strike options suggests some investors are positioning for a possible March rebound in Bitcoin, the firm adds.