Leveraged Bitcoin and crypto traders are getting wrecked to start the week, as investors weigh the impact of the US and Israel’s strikes on Iran.

Bitcoin surged from a 24-hour low of $65,280 to as high as $69,850, triggering a total of $432 million in liquidations, according to CoinGlass.

The majority of the liquidations hit traders going short, coming in at $253 million.

The pseudonymous crypto trader DonAlt says the fact that BTC’s price is not dropping despite the events in Iran is a potential sign of strength.

“Bad news, decent response. Interesting spot, think you can make a good bull case here.

Weekly support, negative macro news entirely disregarded. Maybe time for some up for at least a little bit, we have room up to…