- Bitcoin dropped nearly 4% on Saturday following a joint U.S.-Israeli military operation in Iran.
- Liquidations surpassed $250 million shortly after the geopolitical announcement.
- Cryptocurrency markets reacted alone as traditional financial markets remained closed.
- U.S. President Donald Trump targeted Iran’s nuclear infrastructure and called for a change in government.
Bitcoin faced intense selling pressure alone over the weekend, with losses nearing 4% after a major military strike on Iran was announced by the US and Israel. Data from TradingView showed the price testing the $63,000 support level.
In a video address on Truth Social, US President Donald Trump stated the goal was to target Iran’s nuclear infrastructure. He concluded by telling Iranians, “When we are finished, take over your government; it will be yours to take.”
Consequently, the crypto market reacted in isolation with traditional markets suspended. This spike in volatility triggered over $250 million in liquidations, according to CoinGlass data.
Meanwhile, trading resource The Kobeissi Letter noted this was the second such conflict in eight months. The group referenced a similar 2025 event that also caused immediate market volatility.
However, key Bitcoin support levels continued to hold despite the geopolitical instability. This fresh escalation occurred just before the crucial February monthly close for the asset.
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