Bitcoin Dips Under $100K Amid U.S. Iran Military Action
On Sunday, the largest cryptocurrency fell below the $100,000 mark for the first time in over a month, following U.S. airstrikes targeting Iran.
bitcoin experienced a 4% decline in the last 24 hours, settling around $99,300, as reported by Binance. Ether, the second most valuable cryptocurrency, faced a sharper drop of nearly 10%. Overall, the cryptocurrency market saw a decrease of approximately 7% within the same timeframe.
This selloff occurred shortly after the U.S. conducted airstrikes on three significant nuclear facilities in Iran on Saturday.
In mid-June, a nuclear watchdog supported by the United Nations indicated that Iran was not adhering to restrictions against developing a military nuclear program. Following the release of these findings, Israel launched strikes against Iran, which retaliated. On Saturday, Trump announced that he had authorized U.S. involvement in the conflict.
“This is an HISTORIC MOMENT FOR THE UNITED STATES OF AMERICA, ISRAEL, AND THE WORLD. IRAN MUST NOW AGREE TO END THIS WAR. THANK YOU!” Trump declared on social media that evening, using all capital letters.
bitcoin‘s recent drop below the crucial $100,000 level comes after a year of significant growth for the cryptocurrency.
After Trump’s victory in the 2024 presidential election in November, bitcoin surged. Major stock indices, including the S&P 500, also rose, but the cryptocurrency and the wider crypto market saw particularly steep increases. Investors viewed a Trump administration, which he has labeled as “pro-crypto,” as a positive development for the sector.
Once Trump took office in January, bitcoin quickly reached all-time highs exceeding $100,000 in February, following the president’s introduction of executive orders aimed at supporting the crypto sector. However, the cryptocurrency soon mirrored the trends of broader financial markets and began to decline. In April, shortly after Trump announced a series of historically high tariffs, bitcoin fell to nearly $75,000, marking its lowest point in 2025.
Recently, bitcoin, which typically aligns with tech stocks and the Nasdaq, has seen a resurgence. In May, it achieved its all-time high as Wall Street investors returned to the cryptocurrency through U.S. exchange-traded funds, or ETFs. However, in June, it began to decline again amid ongoing geopolitical tensions in the Middle East.
In summary, bitcoin‘s drop below $100,000 reflects the impact of geopolitical events on the cryptocurrency market. Investors are closely monitoring the situation as it unfolds.
