Bitcoin BTC has dropped to $68,250, returning to a price range dating back to early February after a weekend selloff. This follows threats from U.S. President Donald Trump to "obliterate" Iran's power plants unless the country opens the Strait of Hormuz within 48 hours. Over $400 million worth of leveraged crypto futures bets have been liquidated in the past 24 hours, with more than $280 million of these were longs. The Dollar Index (DXY) is now trading above 100 due to inflation fears and a halt to the Fed’s interest-rate-cutting cycle. The altcoin market has underperformed, with tokens ETHFI, HYPE and SKY losing around 3% while BTC is in the black after falling on Saturday and Sunday. The volatility index, EVIV, jumped to 84% on Sunday, the highest since early February.