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02/03/26 03:56 UTC-04

Bitcoin Falls to $66K Amid Middle East Conflict

Cryptocurrency Cryptocurrency
Cryptocurrency Bitcoin Falls to $66K Amid Middle East Conflict

Bitcoin dropped to the $66,000 level during Asian trading on Monday as the expanding conflict between the U.S., Israel, and Iran triggered a broad risk-off move across global markets.

The world’s largest cryptocurrency was down 2.1%, trading at $66,197.6 as of 06:15 GMT.

Bitcoin Declines After U.S. and Israeli Strikes on Iran

Bitcoin plunged over the weekend after joint U.S. and Israeli military strikes on Iran — including reports of the killing of Supreme Leader Ayatollah Ali Khamenei — marked one of the most serious escalations in the region in recent years.

Bitcoin briefly fell to around $63,000 following the initial attacks before partially stabilizing.

U.S. President Donald Trump stated that the strikes would continue as long as necessary to achieve their objectives, signaling sustained military pressure.

Iran responded with multiple waves of missile strikes targeting Israeli and U.S. military facilities, while rising tensions disrupted financial markets and shipping routes.

Oil prices surged more than 7% amid concerns over supply disruptions near the Strait of Hormuz. Gold climbed roughly 2% to multi-week highs as traders sought safe-haven assets amid escalating geopolitical risks.

U.S. stock futures declined during Asian trading hours, pointing to a weaker Wall Street open, while major Asian indices also fell early Monday.

Bitcoin’s recent performance continues to reflect its growing correlation with traditional risk assets rather than functioning as a safe-haven asset.

Market direction this week will largely depend on whether geopolitical tensions escalate further or show signs of de-escalation.

Most Altcoins Decline; Cardano Down 5%

Most altcoins posted steeper losses than Bitcoin as investors avoided riskier assets.

The world’s second-largest cryptocurrency, Ethereum, fell 2.2% to $1,963.92.

The third-largest cryptocurrency by market cap, XRP, dropped 2.4% to $1.37.

Solana declined 2.4%, while Cardano fell 5%, and Polygon slipped 2%.

Among meme tokens, Dogecoin lost 4%.

See also: "Bitcoin ETFs End 5-Week Outflow Streak, Attract $1 Billion in Three Days"

#Bitcoin (BTC) #Price drop

Editor: Yuliya Soroka
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