Hormuz ultimatum sparks crypto sell-off as BTC swings $68,265–$71,051

Tensions around the Strait of Hormuz rippled into crypto, pushing Bitcoin (BTC) into a wide intraday band of $68,265–$71,051 before it hovered near $69,195, down 2.2%. Liquidations climbed above $300 million, up 80%, including more than $123 million tied to BTC, as broader risk-off pressure pulled major altcoins lower and the total market cap slipped to $2.37 trillion.