Bitcoin Dips to $64K as U.S. and Israel Launch Iran Strikes

Bitcoin tumbled below $64,000 during Saturday trading after the United States and Israel launched military strikes on Iran, dragging the largest cryptocurrency down roughly 3% in hours and extending a punishing weekend for risk assets.

Iran Strikes Spark Immediate Bitcoin Selloff

The drop pushed Bitcoin to its weakest level since the February 5 crash, when the token briefly dipped beneath $60,000. Israeli Defense Minister Israel Katz declared an immediate state of emergency across all areas of Israel, according to official statements. A U.S. official confirmed American participation in the strikes, The Wall Street Journal reported.

The military action followed a monthlong American buildup in the region and failed negotiations over Iran's nuclear program, according to multiple reports. The attack risks a wider regional conflict in one of the most economically sensitive parts of the world.

Why Does Bitcoin Sell Off During Weekend Crises?

Bitcoin trades 24 hours a day, 7 days a week, while equity and bond markets close on weekends. That makes it one of the only large, liquid assets traders can sell when geopolitical risk spikes outside traditional market hours. The result is that Bitcoin often acts as a pressure valve for broader risk-off sentiment, absorbing selling that would otherwise hit equities, commodities, and currencies.

What This Means Going Forward

The pullback erased most of Wednesday's push toward $70,000, which had already stalled after hot producer-price data and a post-earnings Nvidia decline weighed on risk appetite. With traditional markets set to reopen Monday, investors will be watching whether the selling pressure spills over into equities or whether the broader market absorbs the geopolitical shock.