Bitcoin drops below $66,000 amid explosive nearly 20% rise in oil prices

Over the weekend, there were virtually no signs of de-escalation in the Iran conflict.
What has become a familiar situation in the cryptocurrency market over the past few months is that prices start the week with negative dynamics.

After no signs of de-escalation in the US-Iran war over the weekend, oil prices surged sharply on Sunday evening during US trading. WTI crude futures for April delivery have now increased by 19.1% to $108.35 per barrel. This is roughly twice the price at the beginning of 2026 and the highest level in the past four years.
This increase, in turn, led to nearly a 2% decline in futures on US stock indices across all positions. Nikkei 225 futures in Japan fell by 3.1% just before the market opened on Monday.

Bitcoin (BTC) decreased by 2%. Ethereum (ETH) and Solana (SOL) fell approximately 1.4%.
Short positions on oil on the Hyperliquid platform were liquidated due to a 30% rise in crude oil prices amid escalating tensions with Iran.
Tokenized futures for crude oil recorded the largest liquidation event on cryptocurrency platforms as the conflict expanded to Saudi Arabia and oil production in the Persian Gulf region collapsed.
A historic surge in crude oil prices, triggered by the sharp escalation of the Iran-Israel conflict, caused nearly $40 million in liquidations on Hyperliquid tokenized oil contracts, with about $36.9 million in short positions.
The sharp rise pushed the CL-USDC contract on Hyperliquid to $114.77, making oil one of the largest homogeneous liquidation events on the platform aside from Bitcoin and Ethereum, despite the overall decline in crypto markets amid reduced risk.