Bitcoin faced a weekend of geopolitical-driven selling as markets outside crypto were closed while the US and Israel announced a military operation in Iran, leaving digital assets to react on their own.
Bitcoin (BTC) saw daily losses approach 4% on Saturday after the US and Israel confirmed coordinated strikes. The move sent BTC testing the $63,000 area as traders digested the news.
Key points:
– Bitcoin drifted toward $63,000 after US President Donald Trump confirmed a major bombing campaign inside Iran.
– Trump said the joint raids with Israel were targeting Iran’s nuclear infrastructure.
– With traditional markets paused until futures reopen, crypto traded with minimal external market support.
In a video address, President Trump described the operation as focused on Iran’s nuclear facilities and urged Iranians to oust their current leadership. “When we are finished, take over your government; it will be yours to take,” he said, adding the opportunity could be once-in-a-generation.
With US equity markets not yet open, crypto markets were left to price the escalation independently. Data from CoinGlass indicated liquidations exceeded $250 million in the four hours up to the time of reporting, highlighting acute volatility among leveraged positions.
Observers characterized the episode as a renewed large-scale confrontation between the US, Israel and Iran, noting similarities to the 2025 Iran offensive that previously triggered sharp moves across cryptocurrencies and other risk assets.
Technically, BTC/USD was testing established support levels as the month-end approached. The pair entered the latest move already down around the same magnitude as in February 2025 and on track to close a fifth straight monthly loss — a streak not seen in seven years. Recent hot US inflation data added pressure after bulls failed to reclaim nearer-term support closer to $70,000.
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