Bitcoin (BTC) Drops to $63,000 Following U.S. and Israeli Strikes Against Iran

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TLDR

  • Bitcoin declined by almost 5%, falling to around $63,000, following military strikes on Iran by the U.S. and Israel.
  • The price plunge reached its lowest point since the crash on February 5, when BTC fell briefly under $60,000.
  • A state of emergency was declared across Israel by Defense Minister Israel Katz.
  • Bitcoin’s continuous, 24/7 trading allows it to function as an outlet for risk-averse sentiment when conventional markets are shut.
  • As one of the few sizable, liquid assets tradable on weekends, bitcoin was sold off by traders.

On Saturday, February 28, 2026, Bitcoin experienced a significant decline, falling to nearly $63,000 in the wake of military strikes launched against Iran by the United States and Israel.

Bitcoin (BTC) Price

This sharp move equated to a loss of approximately 5% for the leading cryptocurrency within minutes.

The drop pushed bitcoin to its lowest valuation since the February 5 crash, during which it momentarily traded below $60,000.

Shortly after the offensive started, Israeli Defense Minister Israel Katz announced a state of emergency throughout the entire nation.

According to a report in The Wall Street Journal, a U.S. official verified American involvement in the strikes.

As reported by Reuters, which cited the defense minister, Israel characterized the action as a “preemptive strike.”

Why Bitcoin Sold Off First

Unlike stock and bond markets that close on weekends, bitcoin is traded continuously, 24 hours a day, every day of the week.

This characteristic makes it one of the few substantial, liquid assets that can be offloaded by traders when risk aversion surges outside of standard trading hours.

This is a recurring pattern. Bitcoin typically declines rapidly in response to geopolitical turmoil, frequently rebounding after other markets commence trading.

“Bitcoin just dropped off a cliff,” one market watcher posted to X, adding that “Monday will be a bloodbath in the market.”

Geopolitical Context

The military action comes after weeks of a U.S. military buildup and halted nuclear talks with Tehran.

Analysts were already contemplating the potential implications of a conflict with Iran for bitcoin, gold, and equities.

The assault increases the likelihood of an expanded regional conflict in an area of critical economic importance globally.

In recent months, bitcoin’s price movement has not closely correlated with gold, challenging its status as a safe-haven or “digital gold” asset.

As of Saturday morning, bitcoin was changing hands near $63,000, with additional volatility anticipated when traditional financial markets reopen on Monday.