Bitcoin prices have recovered from a weekend dip following US-Israeli air strikes on Iran and reports of the death of Iranian Supreme Leader Ayatollah Khamenei. The asset added $5,000 in less than 24 hours, reaching $68,200, erasing its drop to $63,000. Analysts suggest the market interprets the event as a potential resolution to regional conflict, though Bitcoin remains within a three-week trading range.
Bitcoin prices recovered from their dip following the US-Israeli air strikes on Iran and reports of the death of the Iranian Supreme Leader. Bitcoin reached $68,200 in early Sunday trading on Coinbase, according to TradingView data.
The asset recovered all losses from its Saturday dip to $63,000, adding $5,000 in less than 24 hours. BTC is currently trading around $67,350, back at Friday’s levels but within a three-week range-bound channel.
Over the past 24 hours, around 157,000 traders were liquidated with total liquidations at $657 million. These liquidations were roughly evenly split between leveraged long and short positions, according to CoinGlass.
Iran’s Supreme National Security Council said Ayatollah Khamenei was killed early Saturday morning at his office. US President Donald Trump described the hardline Islamist cleric as “one of the most evil people in history” on his social media platform, Truth Social.
Trump stated, “This is not only justice for the people of Iran, but for all great Americans, and those people from many countries throughout the world, that have been killed or mutilated by Khamenei and his gang of bloodthirsty thugs.” The commander-in-chief of the Islamic Revolutionary Guard Corps, Mohammad Pakpour, and the secretary of Iran’s Defense Council, Ali Shamkhani, were also killed.
Analyst Ash Crypto commented on Sunday, “After news of Iran’s Supreme Leader Khamenei’s death, the market pumped because people are taking it as the end of the US-Iran war.” He added, “If this conflict shows signs of resolution before Monday’s open, I think Bitcoin can hold its gains and move higher.”
Despite recent gains, Bitcoin closed its third-worst February in history and only the fourth time since 2013 ending the month in the red. BTC shed just under 15% last month, but its worst February was in 2014 when it lost 31%, followed by 2025 when it fell 17.4%, according to CoinGlass.
The asset is also on track to close its worst-performing first quarter since 2018. It has lost almost 23% since the beginning of the year.
