Crypto markets slide as Israeli airstrikes hit Iran: Bitcoin price tumbles to $104K
Bitcoin falls below $104K amid Iran-Israel conflict
Bitcoin prices have plunged sharply, falling to $103,900, as escalating military tensions in the Middle East spooked global markets.
The drop, representing more than a 4% decline over the past 24 hours, comes after Israeli forces reportedly launched airstrikes targeting ballistic missile and nuclear facilities in Tehran, Iran’s capital, Al-Jazeera reported.
Key takeaways
- Bitcoin drops below $104K: Price hits $103,900, down over 4% in 24 hours.
- Israel strikes Iran: Confirmed by multiple sources, including Al-Jazeera.
- Military escalation fuels sell-off: Investors flee riskier assets like crypto amid geopolitical turmoil.
- Netanyahu confirms ongoing action: Israel targets Iranian nuclear and missile sites.
Geopolitical tensions send crypto markets into retreat
The situation unfolded quickly after Axios reported that Israel had conducted military operations inside Iranian airspace, citing unnamed sources. The development was later confirmed by Al-Jazeera, which reported explosions in Tehran. Israeli Prime Minister Benjamin Netanyahu said the goal is to eliminate Iran’s ballistic missile capabilities, adding that strikes will continue “until the threat is removed.”
The crypto market reacted swiftly to the news, with Bitcoin leading the sell-off. Risk-sensitive investors typically reduce exposure to volatile assets like cryptocurrencies during periods of geopolitical instability. Ethereum and other major altcoins also saw sharp declines, though Bitcoin’s steep fall was the most notable.
Glassnode and other analysts have noted that leveraged long positions in BTC were liquidated in the immediate aftermath of the strike reports, exacerbating the decline. While cryptocurrencies are often touted as alternatives to traditional financial systems, they remain vulnerable to macroeconomic and geopolitical shocks.
Bitcoin has added significantly to its earlier losses, dropping more than 4% to $103,313 in the last 24 hours. Currently, bitcoin is trading near $104.096, down from $103,313.
BTC price dynamics (May - June 2025). Source: TradingView
Market outlook: uncertainty looms
The continued uncertainty in the Middle East is likely to weigh on crypto markets in the near term. Should the conflict escalate further, digital assets could see additional downward pressure. Traders and institutional investors alike will closely monitor developments in Iran and Israel, as well as the broader global response.
In the short term, analysts suggest that Bitcoin may test psychological support near $100,000, with volatility expected to persist.
Read also: GameStop shares plummet due to Bitcoin strategy.
