Bitcoin Slips Below $104,000 Following Israeli Attacks on Iran

Israel launched a targeted preemptive strike against Iran’s nuclear and military facilities, intensifying tensions in the Middle East.

Bitcoin (BTC) dropped significantly, falling to a low of $103,162 amid the attacks on Tehran and other strategic locations, before recovering slightly to trade roughly 2% lower than the previous day.

Prime Minister Benjamin Netanyahu declared that the strikes aim to dismantle Iran’s nuclear capabilities and ballistic missile sites, vowing that operations will continue until the Iranian threat to Israel’s survival is eliminated.

Before the strike, market platforms like Polymarket had priced the probability of Israeli military action against Iran by July at under 30%, indicating the move was largely unexpected.

The news first broke via Axios, with Al-Jazeera confirming explosions in Iran’s capital soon after.

Market Impact

European stock markets fell, with the Euro Stoxx 50 down 1.4% and the FTSE 100 dropping 0.7%. U.S. futures declined about 1.4% across major indexes in response to the geopolitical developments.

Safe-haven assets advanced: gold futures gained 1% to $1,436 per ounce, U.S. 10-year Treasury yields decreased by 2 basis points to 4.32%, and crude oil surged nearly 9%, later stabilizing around a 5.6% increase.

The U.S. dollar strengthened against the euro and British pound but weakened against the yen and Swiss franc, reflecting shifts in currency demand amid the geopolitical uncertainty.