Bitcoin dips below $84,000 as oil price surge triggers $547M crypto liquidations

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Bitcoin's price dropped below $84,000 amid a broader cryptocurrency market decline. The sell-off coincided with a sharp rally in oil prices following attacks on Iranian tanker ships. Smaller altcoins experienced even steeper losses compared to Bitcoin. These market movements led to approximately $547 million in leveraged trading positions being forcibly closed. The event highlights the interconnected nature of commodity prices and digital asset markets.

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