Bitcoin Slides Below $100K as Markets React to Potential Iranian Retaliation
Bitcoin fell under the $100,000 mark on Monday as geopolitical tensions resurfaced, following reports that Iran may be planning strikes against U.S. bases in the Gulf region.
The leading cryptocurrency slipped to around $98,500 before recovering slightly, hovering just above the six-figure threshold.
Other major cryptocurrencies also reversed earlier gains. Ether (ETH) dipped below $2,200, while XRP dropped beneath $2, though both found some stability later. The CoinDesk 20 Index declined about 3% during U.S. morning trading but remained modestly positive on a 24-hour basis.
Axios reported that former President Donald Trump’s White House was preparing for potential Iranian attacks on U.S. military installations in Qatar, the United Arab Emirates, and Kuwait. These potential retaliatory moves follow U.S. airstrikes over the weekend that targeted three Iranian nuclear sites.
Trump was said to be meeting with his national security team to assess the unfolding situation, Axios noted.
“Bitcoin’s downturn is being fueled by a combination of geopolitical uncertainty and broader market anxiety,” said Kirill Kretov, senior automation expert at CoinPanel. “With Middle East tensions escalating, investors are moving away from riskier assets.”
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