On Monday, Bitcoin surged back past the $82,000 threshold but soon retraced its gains. The decline was sparked by a brief statement from former President Trump on social media: “I don’t like it.” Moments after the tweet, the cryptocurrency plummeted by nearly $1,200, dropping from approximately $81,500 to $80,300.
This development led to immediate liquidations in the cryptocurrency market, triggering one of Bitcoin’s most tumultuous 12-hour periods. Within just the first hour of the downturn, approximately $81 million in long positions were liquidated. Following this, Bitcoin attempted to recover toward $82,400 as the US futures market opened, only to decline once more.
BREAKING: Bitcoin just dumped $1,900 in 4 hours, fully retracing the entire pump.
In the last 12 hours,
Bitcoin dumped $1200 from $81.2k to $80.3k
Then pumped $2100 from $80.3k to $82.4k
Now again down $1900 from $82.4k to $80.5kLiquidated $370M worth of longs and shorts pic.twitter.com/tabUBTH3cL
— Bull Theory (@BullTheoryio) May 11, 2026
In total, over $370 million in long and short positions were liquidated during this volatility, with Bitcoin oscillating nearly $4,000 in both directions within a span of 12 hours.
The Iran Connection
Trump’s statement was not made in a vacuum; it came just as Iran provided its response to a US peace offer through intermediaries from Pakistan. The reply indicated that Iran was unwilling to dismantle its nuclear sites, contested some of the nuclear demands, and suggested moving a portion of its uranium to a third nation while requesting negotiations on nuclear matters over the next month.
In his public remarks, Trump accused Iran of “playing games” with the US for 47 years, asserting that “they will be laughing no longer.” Observers noted that similar rhetoric from Trump in the past was often followed by military action within 48 hours.
The geopolitical uncertainty immediately returned to the financial markets.
Where Analysts Stand Now
Despite the brief recovery to around $82,000, some analysts are adopting a more cautious stance. Crypto analyst Doctor Profit mentioned that the current price range between $82,000 and $85,000 resembles the setup he utilized to short Bitcoin near its peak in 2025. He has been progressively adding short positions daily within this range while capitalizing on profits from long positions he entered around $71,000.
His alert is clear: the recent uptrend may be a bullish trap as retail enthusiasm builds near resistance levels.
For the bullish outlook to remain viable, Bitcoin must finish the week above $81,000.
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