Bitcoin faced geopolitical instability alone over the weekend, with its price dropping nearly 4% to test $63,000 as the U.S. and Israel announced a military operation in Iran. President Donald Trump confirmed a bombing campaign targeting Iran’s nuclear infrastructure and called on Iranians to take control of their government. With traditional financial markets closed, cryptocurrency was the sole market reacting, resulting in over $250 million in liquidations as key support levels were tested.
Bitcoin losses approached 4% on Saturday following the announcement of a joint military operation by the U.S. and Israel inside Iran. The BTC price action was testing $63,000 as crypto markets reacted to the events.
In a video address, U.S. President Donald Trump stated the goal was to target Iran’s nuclear infrastructure. He finished by telling Iranians, “When we are finished, take over your government; it will be yours to take.”
Trump added, “This will be, probably, your only chance for generations. For many years, you have asked for America’s help, but you never got it.” With U.S. stock market futures yet to open, crypto was alone in deciding how to respond to the fresh instability.
Data from CoinGlass showed liquidations exceeding $250 million in the four hours following the news. Trading resource The Kobeissi Letter noted on X that the U.S. and Israel appeared to be at war with Iran for the second time in eight months.
The escalation comes as Bitcoin approaches its February monthly close, potentially sealing a fifth consecutive month of losses. The pair is down roughly as much as it was in February 2025, a level of decline not seen in seven years.
