Bitcoin Rebounds to $68K After Iran Supreme Leader's Death

Bitcoin recovered to $68,200 on Sunday after the confirmed death of Iran's Supreme Leader Ayatollah Khamenei in US-Israeli air strikes, erasing a sharp drop to $63,000 recorded one day earlier. The $5,000 rebound in under 24 hours signals renewed risk appetite as geopolitical tensions take a potentially decisive turn.

BTC Surges After Iran Air Strikes and Khamenei's Death

BTC hit $68,200 during early Sunday trading on Coinbase, according to TradingView data. The cryptocurrency had plunged to $63,000 on Saturday after the United States and Israel launched coordinated air strikes against Iran. However, confirmation that the strikes killed Ayatollah Khamenei at his office reversed the selloff, with buyers driving prices back to Friday's levels near $67,350.

Iran's Supreme National Security Council confirmed Khamenei's death, as reported by the BBC. The commander-in-chief of the Islamic Revolutionary Guard Corps, Mohammad Pakpour, and the secretary of Iran's Defense Council, Ali Shamkhani, were also killed in the strikes.

US President Donald Trump described the Islamist cleric as 'one of the most evil people in history' on Truth Social. 'This is not only justice for the people of Iran, but for all great Americans, and those people from many countries throughout the world, that have been killed or mutilated by Khamenei and his gang of bloodthirsty thugs,' he stated.

This is not only justice for the people of Iran, but for all great Americans, and those people from many countries throughout the world, that have been killed or mutilated by Khamenei and his gang of bloodthirsty thugs.

— Donald Trump, US President

How Did Crypto Liquidations Play Out During the Iran Crisis?

The geopolitical shock triggered massive liquidations across crypto markets. Roughly 157,000 traders saw their positions wiped out over 24 hours, with total liquidations reaching $657 million, according to CoinGlass. Losses were split nearly evenly between leveraged longs and shorts, reflecting the whipsaw price action as BTC swung from $63,000 to $68,200 within a single day.

'After news of Iran's Supreme Leader Khamenei's death, the market pumped because people are taking it as the end of the US-Iran war,' commented analyst Ash Crypto on Sunday. He added that if the conflict shows signs of resolution before Monday's open, Bitcoin could hold its gains and push higher.

After news of Iran's Supreme Leader Khamenei's death, the market pumped because people are taking it as the end of the US-Iran war.

— Ash Crypto, Analyst

What Does Bitcoin's Worst February Mean Going Forward?

Bitcoin's weekend recovery does not erase a brutal month. The asset closed its third-worst February in history, shedding nearly 15% over the month. Only 2014, when BTC lost 31%, and 2025, when it fell 17.4%, produced worse February performances, according to CoinGlass data. It marked just the fourth time since 2013 that Bitcoin has ended February in negative territory.

The broader picture remains challenging. Bitcoin is on pace for its worst first quarter since 2018, having lost almost 23% since the start of 2026. While the Khamenei news injected short-term optimism, the cryptocurrency still trades within a three-week range-bound channel, and traders are watching whether geopolitical de-escalation can break the downtrend.