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Bitcoin (BTC) Price Slides to $68K Amid Escalating Middle East Tensions

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Bitcoin (BTC) Price

Key Highlights

  • BTC tumbled to approximately $68,652 on Monday, declining 0.7% as escalating Iran conflict drove investors toward safer assets.
  • President Trump issued Iran a 48-hour ultimatum regarding the Strait of Hormuz, threatening military action against energy targets.
  • Year-to-date, Bitcoin remains down more than 20%, though it has gained roughly 6% over the past 30 days.
  • Critical support level identified at $67,250, with potential further declines toward $65,000 or $63,500 if breached.
  • U.S. spot Bitcoin ETFs attracted $95.18 million in net capital between March 16–20, extending a four-week streak of positive inflows.

Bitcoin retreated to $68,652 during Monday’s trading session, registering a 0.7% decline as mounting concerns surrounding the escalating U.S.-Israel confrontation with Iran prompted market participants to exit risk-oriented positions. The downturn continued weekend losses and pushed BTC significantly below its March peak above $72,000.

Bitcoin (BTC) Price
Bitcoin (BTC) Price

The market rout was widespread. Equities, precious metals, and foreign exchange markets all experienced declines alongside digital assets as geopolitical anxiety intensified throughout the Middle East region.

President Donald Trump delivered a 48-hour deadline to Iran over the weekend, demanding immediate reopening of the Strait of Hormuz shipping lane or facing American military strikes targeting vital energy facilities. Iran countered with warnings of complete strait closure and retaliatory attacks on energy and water systems throughout Gulf states.

The standoff has now stretched into its fourth straight week with no indication of de-escalation.

Technical Outlook for Bitcoin

Bitcoin breached support levels at $71,200 and $70,000 during the session, reaching an intraday low of $67,343 before staging a modest rebound. Currently, BTC trades beneath its 100-hour simple moving average, with a descending trendline establishing resistance near $69,200.

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For bulls to regain control, BTC must reclaim $69,200 and establish support above the $70,000 psychological level. Success would open pathways toward resistance zones at $71,650 and $72,800.

Should downward pressure persist, immediate support awaits at $67,250. Additional cushions exist at $66,500 and $65,000. Analysts view $63,500 as a critical support zone that must hold.

Bitcoin’s Performance Against Gold

Despite recent weakness, Bitcoin has outperformed gold on a monthly basis. BTC has appreciated approximately 6% over the past 30 days, whereas gold has retreated nearly 18% from its late-January all-time high, pressured by profit-taking activity.

Gold has notably failed to capture traditional safe-haven flows during the Iran crisis, partly due to investor concerns that prolonged conflict could accelerate global inflation and push interest rates higher.

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On a year-to-date basis, however, Bitcoin trails with losses exceeding 20%, while gold trades near breakeven levels.

Alternative cryptocurrencies also posted losses Monday. Ether declined 2.2% to $2,061.77, XRP fell 1.9% to $1.3853, and Dogecoin slipped 1.3%.

According to Wu Blockchain, U.S. Bitcoin spot ETFs registered combined net inflows totaling $95.18 million during the March 16–20 period, representing the fourth consecutive week of capital additions to these investment vehicles.

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Crypto World

ZachXBT Exposes Fake Accounts Driving Crypto Scams on X

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ZachXBT Exposes Fake Accounts Driving Crypto Scams on X

Blockchain sleuth ZachXBT said Monday he uncovered a coordinated network of accounts on X using exaggerated or fake war and geopolitical posts to lure users into crypto scams.

The investigation identified more than 10 linked X accounts allegedly purchased with follower bases that pushed sensational content and scam links, according to an X thread and screenshots shared by ZachXBT.

The fake accounts used AI to impersonate prominent social media influencers such as Mario Nawfal, flooding X with “doomposts” and driving engagement before promoting fake crypto giveaways and pump-and-dump token schemes. “Onchain evidence suggests the scheme profited six figures,” ZachXBT said, adding that the group has been farming engagement and may be preparing another scam.

The report highlights the persistent problem of fake accounts and bot activity on social media platforms like X, even as the company says it is taking steps to combat such behavior.

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Scam mechanics based on viral geopolitical posts

According to ZachXBT, the scheme started with accounts that had existing followers. These accounts repeatedly posted exaggerated war or political content, often sensational or misleading, which quickly went viral and attracted millions of views.

Once attention peaked, the fake accounts pivoted to promote fraudulent token giveaways or scam tokens. One such promotion involved the pump-and-dump crypto scam referred to as Oramama on Feb. 22, ZachXBT noted.

Source: ZachXBT

ZachXBT spotted numerous large accounts in the replies and quotes that fell for the engagement bait, only to boost the post’s reach unknowingly.

Social media’s scam problem persists despite platform changes

The revelation comes as social media platforms like X have been trying to clamp down on bots and scam activity.

Last month, X’s product chief Nikita Bier announced enhanced anti‑bot detection and removal measures, along with user flags for AI‑generated content, as part of broader efforts to curb automated spam and misinformation.

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Source: Nikita Bier

Still, the ZachXBT findings expose how quickly coordinated accounts can build engagement and mislead users.

Related: Coinbase-backed CoinDCX founders questioned in fraud case: Report

The investigator suggested that platform manipulation should lead to bans and legal consequences, calling social media users to review recent posts and account details before engaging with any content.

ZachXBT also shared a list of X users he believes to be involved in the scam in case they change usernames or deactivate their accounts.

Magazine: Are DeFi devs liable for the illegal activity of others on their platforms?

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