Bitcoin Drops Below $100,000 Following US Airstrikes on Iran

Bitcoin dipped below $100,000 for the first time in over a month, dropping to around $99,300, a 4% decline. This occurred amid escalating geopolitical tensions following US airstrikes on Iran, contributing to a broader cryptocurrency market sell-off of about 7%.

Key Points

The price drop coincided with Ethereum experiencing a nearly 10% decline.
The downturn followed US targeting of Iranian nuclear sites after reports of Iran's non-compliance with international agreements.
President Trump declared this a historic moment, urging Iran to end hostilities.
Bitcoin previously reached all-time highs above $100,000 in February but fell to near $75,000 due to severe tariffs announced in April.
By late Sunday, Bitcoin was trading at approximately $101,300, down 1%, while Ethereum recovered to around $2,200.
Iran threatened to block the Strait of Hormuz, raising concerns about oil prices potentially climbing to $130 per barrel and impacting US inflation.
Bitcoin's recent behavior shows increased correlation with tech stocks, particularly the Nasdaq.
Over $1 billion in crypto positions were liquidated within 24 hours due to forced liquidations triggered by Bitcoin’s price drop.