I just reviewed the charts and what happened over the weekend is pretty brutal. Bitcoin fell below the $75k after Trump issued that 48-hour ultimatum on Iran and power plants. The market that had been rising all week with confidence in de-escalation was demoralized within hours. They literally wiped out all the gains.

The liquidation numbers were wild: nearly $300 million in 24 hours, and 85% were long positions. Bitcoin only lost $122 million in liquidations, Ether $95.7 million. Basically, the market was completely optimistic, and when news broke that there could be direct attacks on infrastructure, everything collapsed. The largest individual liquidation was a $10 million trade on a certain CEX.

Altcoins all fell together. Ether dropped to $2,114, XRP lost up to $1.41, Solana plummeted to $88.55, Dogecoin to $0.092. Only Ether and Solana had gains during the week, everything else in the red.

The crazy part is that the Fed had just kept rates dovishly on Wednesday, which should have helped risk assets. But the threat of military headlines keeps traders very hesitant. Bitcoin still can't break the $76k level for real; it's been fighting that for two months. And the funding rates on perpetuals have been negative for 46 consecutive days, even with open interest rising. Next week will be tense if the situation escalates further.