Bitcoin experienced a significant decline, falling below $66,000 for the first time since March, with a notable drop of over $4,500 in a single day. This 7% decrease was attributed to a combination of leveraged liquidations and military tensions between the United States and Iran, which have escalated amid stalled ceasefire talks. According to TradingView, Bitcoin's price hit $65,385, marking its lowest point since late March. The cryptocurrency market faced a massive liquidation event, with around 277,000 traders liquidated and total losses reaching approximately $1.83 billion, predominantly from long positions in Bitcoin and Ether. Andri Fauzan Adziima, research lead at Bitrue Research Institute, indicated that the current market conditions are influenced more by technical factors and ETF outflows rather than the geopolitical situation alone. Meanwhile, US military actions against Iranian threats have further amplified market fears, as the US Central Command confirmed successful strikes against Iranian missile launches targeting regional neighbors. The ongoing military skirmishes complicate the already fragile ceasefire negotiations between the US and Iran, which have yet to yield a resolution.