US‑Israel Airstrike on Iran Sends Bitcoin Sliding Toward $63,000
February 28, 2026
A joint U.S.–Israel military operation targeting Iran’s nuclear facilities has reignited geopolitical tension and sent the world’s largest cryptocurrency into a sharp correction. By Saturday afternoon, Bitcoin (BTC) had erased roughly four percent of its value, testing the $63,000 level as traditional equity markets remained shuttered for the weekend.
What happened
President Donald Trump broke from a weekend of relative market quiet to announce a “major bombing campaign” inside Iran, stressing that the strikes were aimed at halting the country’s nuclear programme. In the same address, the president urged Iranians to seize control of their government once the operation concluded.
The announcement marked the second direct confrontation between the United States and Iran within eight months, echoing a 2025 offensive that had previously spurred a volatile reaction across both crypto and risk‑asset markets.
Bitcoin’s price action
- Current price: BTC traded around $63,200 on the one‑hour chart, hovering just above a key psychological barrier.
- Magnitude of move: The cryptocurrency lost nearly 4 % from its recent high, a decline comparable to the downturn seen in February 2025.
- Liquidity stress: Data from CoinGlass indicated that liquidations exceeded $250 million within a four‑hour window, underscoring the heightened volatility and the pressure on leveraged positions.
With U.S. stock‑market futures still closed, crypto assets were effectively left to “vote” on the news in isolation, a scenario rarely seen outside of major geopolitical shocks.
Market context
- Support levels: Despite the sell‑off, core technical support around the $60,000‑$61,000 zone remains intact, offering a buffer for short‑term bulls.
- Inflation backdrop: The latest U.S. inflation report, released on Friday, added a further headwind for risk assets, including Bitcoin, by reinforcing expectations of tighter monetary policy.
- Monthly close: The correction arrives as traders approach the February monthly settlement, a period that historically amplifies price swings in the crypto space.
Analyst commentary
- Kobeissi Letter: The research outlet noted that “the U.S. and Israel now appear to be at war with Iran for the second time in eight months,” suggesting that the market may have already priced in a degree of geopolitical risk, but the sudden escalation still triggered a rapid re‑pricing in crypto.
- Historical parallel: The 2025 Iran offensive produced a similarly swift drop in BTC, followed by a rapid rebound once markets digested the fallout. Observers caution that if the current operation remains limited, Bitcoin could stabilize and potentially resume its upward trajectory toward the $70,000‑$75,000 range later in the quarter.
Key takeaways
- Geopolitical risk is back‑testing crypto resilience – Bitcoin is reacting to a major U.S.–Israel strike while traditional markets sit idle, highlighting its role as a quasi‑independent risk asset.
- Technical support holds – The $60k‑$61k level continues to absorb selling pressure; a breach could open the door to deeper declines toward the $55,000 region.
- Liquidity squeezes are evident – Over $250 million in liquidations points to aggressive leveraged exposure and heightened market sensitivity.
- Short‑term outlook remains uncertain – Traders will watch for further statements from Washington and Jerusalem, as well as any escalation in Iranian retaliation, to gauge whether Bitcoin’s slide will deepen or reverse.
As the situation develops, market participants should remain vigilant about both the macro‑political narrative and the underlying technical landscape, keeping risk management at the forefront of any trading decisions.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrency trading carries significant risk. Readers are encouraged to conduct independent research before making any financial decisions.
Source: https://cointelegraph.com/news/bitcoin-price-drops-63k-us-israel-bomb-iran?utm_source=rss_feed&utm_medium=feed&utm_campaign=rss_partner_inbound
