Bitcoin Drops Below $64K Amid Iran Strikes

Bitcoin nears $63,000 after U.S. and Israel launch strikes on Iran, as Trump announces major U.S. combat operations.

Bitcoin slid toward $63,000 after Israel launched strikes on Iran and President Trump announced major U.S. combat operations. 

Within minutes, crypto markets reacted sharply, wiping out billions in value.

As geopolitical tensions intensified, traders rushed to reduce risk, triggering rapid liquidations across major digital asset exchanges worldwide.

Bitcoin Drops as Middle East Conflict Escalates

Bitcoin plunged after Israel confirmed a preventive strike on Iran, shaking global financial markets. The news spread quickly and triggered a broad selloff in crypto assets.

Matthew Dixon, a veteran financial trader, posted on X that Israel had carried out an attack, citing the defence minister.

He noted that explosions were heard in Tehran and said the development prompted a sharp selloff in BTC and Crypto.

The leading digital asset fell nearly 4% from about $65,500 to $63,000 amid the sudden flare-up in the Middle East conflict.

It was trading at around $63,600 at press time, down 6% in the last 24 hours.

As tensions increased, traders reduced exposure to risk assets and shifted to defensive positions.

Consequently, volatility rose across crypto platforms while investors monitored updates from Israel and the United States.

$75 Billion Wiped From Crypto Market in One Hour

Following the initial decline, liquidations accelerated in derivatives markets. More than $100 million in long positions were liquidated within 15 minutes, according to exchange data.

Within one hour, over $75 billion was erased from the total crypto market value. Leveraged traders faced automatic sell orders as prices fell rapidly. As a result, downward pressure increased.

High leverage amplified the selloff across platforms. When stop-loss levels were triggered, additional positions were forced to close. Therefore, the market decline deepened in a short period.

Meanwhile, trading volumes surged as investors monitored developments.

Both retail and institutional traders adjusted positions to manage risk. Volatility remained elevated throughout the session.

Trump Announces “Major Combat Operations” Against Iran

President Donald Trump later announced that the United States had begun “major combat operations” against Iran. He said the objective was to destroy Iran’s missile capabilities.

“We are going to destroy Iran’s missiles,” Trump stated. He acknowledged that American lives may be lost and that casualties were possible.

However, he said the action was necessary to ensure Iran does not obtain a nuclear weapon.

Trump described Iran’s leadership as “very bad, hard, terrible people” who threaten the United States and its allies.

He said Iran supports terrorism and builds dangerous weapons, including missiles and nuclear technology. According to Trump, Iran poses an imminent threat.

He added that the decision followed failed talks and other diplomatic efforts. “We had to do this after talks and other ways didn’t work,” he said. He also noted that the action aimed to protect Americans and U.S. allies, while signaling that Israel played a role in the response.

In addition, Trump called on the Iranian people to overthrow their government once U.S. airstrikes conclude. His remarks further increased global attention on the unfolding conflict.

Related Reading: What Happens to Bitcoin If Iran’s Hashrate Vanishes Overnight?

Israel Prepares for Retaliation as Markets Remain Volatile

Earlier, Israel’s defence minister confirmed that Israeli forces carried out preventive strikes. The Israel Defence Forces warned that missile retaliation from Iran was possible.

Authorities suspended schools, workplaces, and public gatherings nationwide. Essential services continued operations under emergency measures. Security forces remained on high alert.

Because of these developments, financial markets reacted across asset classes. Investors tracked oil prices, equities, and safe-haven assets alongside cryptocurrencies.