BTC Recovers Above $102,000 in Wake of Iranian Strikes on American Forces in Gulf

Bitcoin Rises Above $102K Despite Iranian Missile Strikes on U.S. Bases

Bitcoin surged back above the $102,000 mark on Monday, brushing off renewed geopolitical tensions in the Middle East following Iranian missile strikes on U.S. military bases across the Gulf region.

BTC briefly fell as low as $99,500 after reports emerged that Iran had targeted American installations in Qatar, Kuwait, Bahrain, and the United Arab Emirates in retaliation for recent U.S. airstrikes on three Iranian nuclear sites. A Qatari official confirmed that the strikes there caused no casualties or injuries.

Despite the initial dip, bitcoin rebounded quickly, gaining 2.9% over the past hour to trade around $102,400. The world’s largest cryptocurrency remains up 2.5% in the past 24 hours, while the CoinDesk 20 Index, which tracks the performance of the top 20 digital assets excluding stablecoins, memecoins, and exchange tokens, has risen 2.1% over the same period.

Traditional markets appeared largely unfazed by the developments. Gold, a traditional safe-haven asset, inched up modestly to around $3,380, while oil prices fell roughly 4% on the day.

“Crude getting crushed. Good sign,” commented Sean Farrell, head of digital asset strategy at Fundstrat, in a post on X.

Nicolai Søndergaard, a research analyst at blockchain analytics firm Nansen, said geopolitical shocks typically cause sharp but brief market drops that can rebound depending on the severity and clarity of the situation.

“So far, we’re seeing a similar pattern here,” Søndergaard noted. He added that while some “smart money” investors appear to be turning slightly risk-off, strong exchange outflows indicate others are buying into the dip, suggesting continued opportunistic trading in the crypto market.