Bitcoin Slides as US and Israel Launch Strikes on Iran
Bitcoin’s price fell sharply on Saturday, February 28, 2026, following coordinated military strikes by the United States and Israel in Iran. The cryptocurrency briefly dipped below $63,000, marking its lowest level since February 5th, as geopolitical tensions escalated. CoinDesk and CoinTelegraph reported the decline.
Geopolitical Risk and Bitcoin’s Response
The strikes, which targeted Iranian nuclear infrastructure, prompted a roughly 3% drop in Bitcoin’s value within hours. This sell-off underscores a pattern where Bitcoin experiences price declines in response to geopolitical shocks before often recovering. The 24/7 liquidity of Bitcoin makes it one of the few large assets traders can exit during weekend periods when traditional stock and bond markets are closed. CoinDesk highlighted this dynamic.
Market Impact and Liquidations
The downturn coincided with Israeli Defense Minister Israel Katz declaring a state of emergency across Israel. A U.S. Official confirmed American participation in the strikes, as reported by The Wall Street Journal. CoinDesk
The volatility also triggered significant liquidations in the crypto derivatives market. Over $515 million in positions were liquidated in the 24 hours following the attacks, with over 152,275 traders affected. CoinPedia reported the extent of the liquidations, noting the largest single liquidation occurred on Aster in the BTCUSDT pair, valued at $11.17 million.
Trump’s Statement and Regional Implications
U.S. President Donald Trump addressed the situation, stating the goal of the strikes was to target Iran’s nuclear infrastructure and called on Iranians to “take over your government.” CoinTelegraph detailed Trump’s remarks.
The attack on Iran heightens the risk of a broader regional conflict, particularly given stalled nuclear negotiations with Tehran and recent U.S. Military buildup in the region. CoinDesk noted this increased risk.
Key Takeaways
- Bitcoin experienced a price drop to near $63,000 following US and Israeli strikes on Iran.
- The sell-off highlights Bitcoin’s role as a liquid asset available for trading during geopolitical events outside of traditional market hours.
- Over $515 million in crypto positions were liquidated as a result of the market volatility.
- The situation escalates regional tensions and raises the possibility of a wider conflict.