Bitcoin Drops Below $64K Amid Israel Strikes on Iran

Key Insights:

• Bitcoin fell below $64,000 after Israel struck Iran, triggering rapid liquidations in leveraged crypto positions.
• More than $100 million in leveraged long positions were liquidated as Bitcoin broke key support levels.
• Similar geopolitical events previously caused sharp Bitcoin drops followed by later price recoveries after stabilization.

Bitcoin fell below the $64,000 mark after reports confirmed that Israel launched strikes on Iran. The move came as global markets reacted to rising geopolitical tension, leading to reduced risk exposure across several asset classes.

At the time of reporting, Bitcoin was priced at $64,027.54. Market data shows a 2.91% decline over the past 24 hours and a 6.10% drop over the last seven days. Trading activity increased as price volatility picked up following the news.

Liquidations Accelerate the Price Move

The decline was driven in part by forced liquidations in the derivatives market. 

According to The Kobeissi Letter,

This indicates that many traders were holding leveraged positions before the drop.

As Bitcoin slipped below key support near $65,000, liquidation orders were triggered in quick succession. This added selling pressure and caused price to fall sharply within a short period.

Weak Price Structure Ahead of the News

Bitcoin showed signs of weakness before the geopolitical development. Price action reflected lower highs and lower lows, suggesting reduced buying strength near recent levels.

Because support was already fragile, the headline served as a catalyst rather than a standalone cause. Limited liquidity during the session allowed price to move lower rapidly until buyers emerged near the $64,000 zone.

Past Market Reactions to Global Conflict

Similar price behavior has followed earlier geopolitical events. In February 2022, Bitcoin dropped after Russia attacked Ukraine and later recovered by about 40%. A comparable move occurred in June 2025 following Israeli strikes on Iran, when Bitcoin later rose roughly 25%.

Ted Pillows noted that “Bitcoin dumped first and then rallied” during both events. These cases show that sharp declines often occur immediately after conflict-related news before price finds stability.

Focus on Current Trading Levels

The recent decline tied to reports of U.S. action against Iran has pushed Bitcoin back into a familiar demand range. While buyers have stepped in near current levels, price has not yet moved back above earlier support.

Traders are watching whether Bitcoin can stabilize and trade back above the prior breakdown area. Until that happens, market activity remains cautious, with leverage levels reduced after the recent sell-off.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.