Bitcoin (BTC) experienced a sharp drop Saturday night, leading other cryptos lower, as news broke that the United States had bombed three major nuclear facilities in Iran. The geopolitical shockwave triggered a swift market reaction, sending Bitcoin tumbling to as low as $99,811. The strikes, which targeted Iran’s Fordow, Natanz, and Esfahan nuclear sites, were confirmed by President Donald Trump in a post on Truth Social. Calling the attack a “resounding success,” Trump warned that “far greater” force could be used if Iran retaliates. The statement marked a significant escalation following weeks of rising tensions between Iran and Israel, and has pushed global markets, including crypto, into a state of heightened uncertainty. The impact on the broader cryptocurrency market was immediate and severe. Over $40 billion was wiped from total market capitalization within a few hours, dragging the global crypto market cap down to $3.14 trillion, a 2.36% decline on the day as per CoinMarketCap data. Ethereum was hit even harder than Bitcoin, falling 6.83% to $2,196.66. Solana slumped 6.18% to $129, while XRP dipped 5.73% to $1.96. On-chain data from Santiment showed a rapid spike in mentions of “Iran” and “Trump” across crypto-related social media channels. On Sunday, analysts from the firm suggested that the timing of the strikes, late Saturday U.S. time, may have blunted the initial reaction, as much of the retail market was offline. Meanwhile, despite the immediate sell-off, some traders are referencing historical patterns in which Bitcoin recovered quickly from wartime shocks. In 2022, Bitcoin rallied over 40% within a month of Russia’s invasion of Ukraine. More recently, price rebounds followed Iran-Israel missile exchanges in 2024. Still, others are preparing for more downside. Technical analysts have identified $97,000 as a potential key support level, with some predicting a possible dip to as low as $93,000 if tensions worsen. “A dump towards $93K–$94K before bottom formation and reversal,” adding there’s a “20%–25% chance of this happening.” Analyst Cas Abbe warned . He drew parallels to April 2025, when Bitcoin dropped days after U.S. tariff announcements. “Most people thought it was the bottom but BTC actually bottomed 4 days after it.” On current events, he added, “Most are expecting this to be a bottom. But what if April 2025 repeats again? BTC could dump 7%–8% more.” That said, with roughly 40,000 U.S. troops stationed across the Middle East and no clear de-escalation signals from either Washington or Tehran, the situation remains highly fluid. Investors are bracing for further market tremors as the crisis unfolds and global leaders weigh in. At press time, BTC was trading at $99,768, down 1.12% over the past 24 hours.
