Key Points:
- Bitcoin prices dropped to around $65,300 after the weekend military strikes.
- The US and Israel attacked Iran, killing Supreme Leader Ayatollah Ali Khamenei.
- Iran quickly fired missiles at several countries in retaliation.
- Investors are waiting for regular stock markets and ETFs to open on Monday.
Cryptocurrency markets faced heavy pressure this weekend after the United States and Israel launched surprise attacks on Iran. The military strikes killed Iranian Supreme Leader Ayatollah Ali Khamenei and immediately shook investor confidence across the globe. Traders watched their screens nervously as they waited for traditional markets to open.
Bitcoin prices swung wildly as the news broke on Saturday. The digital currency initially fell to about $63,000. When government officials confirmed Khamenei’s death, the price briefly jumped above $68,000. However, the sudden rally did not last long. By Sunday afternoon in New York, Bitcoin traded near $65,300. Ether also lost value, dropping to $1,912.
Overall, the global crypto market lost roughly $128 billion in value at its lowest point over the weekend. The conflict quickly escalated as Iran fired retaliatory missiles at targets in Israel, Qatar, the United Arab Emirates, and Bahrain. Experts warn that this growing war threatens vital shipping routes like the Strait of Hormuz.
Financial traders now look closely at Monday morning. They want to see how traditional stock markets and Bitcoin exchange-traded funds react to the weekend chaos. Last week, investors poured $1 billion into Bitcoin funds. Market analysts say a reversal of this buying trend could push Bitcoin below $63,000 again.
Because of the fear, many investors bought insurance options to protect their money if the price crashes to $60,000. Still, some traders remain highly hopeful. They treat the sudden price drop as a great chance to buy cheap digital coins. These optimistic buyers are placing bets that Bitcoin will recover and reach $75,000 as they shift their focus to the upcoming Federal Reserve meeting.
