13.06.2025 19:21
Following a series of Israeli airstrikes on Iran, Bitcoin experienced a significant price drop, dashing hopes of a new all-time high for the cryptocurrency. The attacks, which Israel claimed responsibility for, triggered a swift 2.8% decline in Bitcoin's value, plummeting from $106,042 to $103,053 within a mere 90 minutes. While the price slightly recovered to $104,370 at the time of writing (according to data from CoinMarketCap), the unexpected downturn left many optimistic traders unprepared.
This volatility resulted in substantial losses for long-position holders. CoinGlass data reveals that approximately $427.84 million in long positions were liquidated within the past 24 hours. This sharp decline comes just days after Bitcoin briefly reached $110,265 on Tuesday, a price point just shy of its May 22 all-time high of $111,940.
The Bitcoin price downturn contrasts with the recent performance of gold and oil. These commodities saw increases of 1.44% and 11%, respectively, over the past 24 hours. However, some crypto analysts, such as Bitcoin entrepreneur Anthony Pompliano, suggest this divergence may be short-lived. Drawing parallels to a previous incident in October, where Iran launched hundreds of rockets at Israel leading to a 3% Bitcoin plunge, Pompliano highlighted that Bitcoin ultimately outperformed gold and oil within 48 hours of that event. He expressed anticipation regarding the upcoming market reactions, stating that the current situation bears a striking resemblance to the October incident.
Uncertainty shrouds the future trajectory of both geopolitical tensions and Bitcoin's price. Israeli Prime Minister Benjamin Netanyahu asserted that the strikes targeted Iran's nuclear program, promising continued military action until the perceived threat is eliminated. In response, Iran's supreme leader, Ayatollah Ali Khamenei, vowed "severe punishment," signaling potential further escalation of the conflict and leaving the market's future response unclear. The ongoing conflict and the unpredictable retaliatory actions are key factors likely to influence Bitcoin's price in the coming days.
