Bitcoin price pushed back toward the top of its recent range after a burst of geopolitical headlines tied to Donald Trump and tensions around the Strait of Hormuz.

The Bitcoin price touched $70,271 before easing to about $69,300, extending a move that triggered large liquidations across derivatives markets. Data from Bitcoin Magazine Pro and CoinGlass shows about $255 million in positions were wiped out over a 24-hour period, with short sellers accounting for the bulk of losses.

The move followed a series of conflicting statements from Trump, who threatened strikes on Iranian infrastructure while also signaling that negotiations could produce a deal within a day. In a post on Truth…

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