Bitcoin Slides Below Key Support as U.S.-Iran Tensions Escalate

Bitcoin remained under pressure on Monday, slipping further after U.S. military strikes on Iran's nuclear infrastructure fueled geopolitical anxiety and dented investor appetite for risk assets.

At 01:35 ET, Bitcoin (BTC) traded at $101,501.8, down 1.3% for the day. Over the weekend, BTC had plunged below its recent consolidation range of $103,000 to $108,000, briefly touching $99,000 before recovering slightly above the psychological $100,000 level.

U.S. Strikes Trigger Flight to Safety

The catalyst for the sharp selloff was a U.S. airstrike targeting three Iranian nuclear facilities. While President Donald Trump claimed “monumental damage,” those reports remain unverified. The UN nuclear watchdog confirmed no spike in radiation, but Tehran's vow of retaliation left markets on edge.

The potential closure of the Strait of Hormuz—a critical channel for global oil shipments—has led to a surge in oil prices and triggered risk-off behavior in markets. Traders rotated into the U.S. dollar, further pressuring crypto assets.

Speculative Assets Take a Hit

Bitcoin's decline reflects its sensitivity to global sentiment, even though it isn't directly impacted by oil flows or traditional trade channels. The broader cryptocurrency market also dropped, with altcoins seeing red across the board.

Additionally, hawkish commentary from the Federal Reserve last week continues to weigh on risk assets. A prolonged period of higher U.S. interest rates would reduce liquidity, hurting speculative investments like crypto.

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