Bitcoin slipped toward the $63,000 area over the weekend as news of coordinated US and Israeli military action in Iran prompted risk-off trading while traditional markets were closed.
The largest cryptocurrency fell as much as about 4% on Saturday after both governments confirmed strikes, leaving digital assets to react without the usual cross-market liquidity. Traders watched BTC test key support around $63,000 as they digested the escalation.
According to statements from US officials, the strikes targeted Iran’s nuclear infrastructure. In a video address, the US president framed the operation as aimed at degrading that capability and urged Iranians to remove their current leadership, calling the moment a rare opportunity for change.
With US equity markets not yet open, crypto markets were effectively pricing the geopolitical shock on their own. Data from CoinGlass showed more than $250 million in liquidations in the four hours prior to reporting, underscoring elevated volatility among leveraged positions.
Market commentators described the episode as a fresh large-scale confrontation between the US, Israel and Iran, drawing parallels to a 2025 Iran offensive that previously triggered sharp moves across cryptocurrencies and other risk-sensitive assets.
On the charts, BTC/USD was testing established support as month-end approached. The pair entered this episode already down a similar amount to the drop seen in February 2025 and looked set to record a fifth consecutive monthly loss — a streak not seen in seven years. Hot US inflation readings in recent days had added further pressure after bulls were unable to reclaim nearer-term resistance around $70,000.
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