Bitcoin Crashes as US and Israel Strike Iran, War Begins

Israel and the United States carried out a joint strike on Iran early Saturday, marking a major escalation in regional tensions. Bitcoin reached extremely to the news, dropping straight to $63,000 and extending daily losses to nearly 7%.

Israeli Defense Minister Israel Katz described the operation as a “preemptive strike.” The Israeli government declared a nationwide state of emergency, warning of possible Iranian retaliation using drones and ballistic missiles.

US Iran War Officially Starts

According to CNN, the strike was coordinated between Washington and Jerusalem. Officials said the action aimed to counter what they described as an immediate threat.

Details on the specific targets have not yet been fully disclosed.The move follows weeks of rising tensions between the U.S. and Iran. Washington yesterday designated Iran a State Sponsor of Wrongful Detention, accusing Tehran of holding American citizens for political leverage.

At the same time, the U.S. increased its military presence in Israel, deploying advanced fighter jets and additional assets across the region.

Bitcoin Crashes and Erased Weekly Gains

Bitcoin fell sharply following news of the strike. The cryptocurrency dropped more than 6% in 24 hours, sliding to around $63,300.

The decline erased recent recovery attempts and extended broader weakness over the past month.Traders appear to be cutting risk exposure amid fears of a wider regional conflict.

If Iran retaliates directly against Israeli or U.S. assets, the situation could escalate quickly. Energy markets are also on alert, given Iran’s strategic position in global oil routes.