Bitcoin slid under $73,000 on Wednesday to its weakest price since April, wiping out more than $950 million in liquidations across leveraged crypto positions in a single day.

Most of the losses came from bullish traders, with long positions accounting for $889 million of the total liquidations.

Investor sentiment is facing increased volatility amid mounting macro and geopolitical uncertainty following renewed military exchanges between Iran and the US on Wednesday. Both sides launched attacks despite an existing ceasefire agreement.

Iran’s Revolutionary Guard claimed responsibility for an attack on a US military base after Washington carried out strikes near Bandar Abbas, where US forces…