Bitcoin
March 2, 2026
Bitcoin (BTC) steadies above $66,000 after a rather volatile weekend. The market saw Bitcoin’s price slip close to $64,000 following the US-Israel strike on Iran. The sell-off came fast and wiped about $128 billion from the total crypto market within hours. But the decline did not last too long. Buyers stepped back in and helped push BTC back into the mid-$66,000 range.
At press time, BTC was trading at $66,317.13. Bitcoin was trading at a high of $67,191.79 before the strike on Iran. Following the attack, the king coin slipped to a low of $65,076.
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Why Bitcoin’s Price Rebounded After the US–Israel Strike on Iran
Bitcoin’s price reaction to the strike on Iran was immediate. Crypto markets, unlike traditional finance, don’t close. Therefore, Bitcoin was the first place that investors marched towards to reduce risk while equity markets were still offline. Analysts at Kronos Research noted the crypto market effectively absorbed the initial wave of uncertainty before stocks even had a chance to respond. By the time Asian and US futures began reflecting geopolitical concerns, Bitcoin had already found some footing. Dominick John, an analyst of Kronos Research, said,
“Over the weekend, crypto sold off on US‑Israel strikes in Iran, with BTC and ETH dipping toward short‑term support as risk assets were unwound. Prices quickly bounced back as traders digested evolving developments, highlighting crypto’s 24/7 liquidity and resilience while traditional markets were closed and unable to respond.”
The crypto market reaction wasn’t uniform. Ethereum (ETH) dipped by nearly 2% over the past 24 hours. Solana and XRP endured a similar fate during this time period. While some managed to recover, most of them continued to lag behind.
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Geopolitical Tensions Rise
Geopolitical tensions were boosting the risk on crypto. Oil markets weren’t spared either. Brent crude surged by nearly 13% at one point. This further marked one of the shapest moves since 2022. Rising oil prices tend to complicate the outlook for inflation and interest rates, both of which influence crypto liquidity.
Despite the turbulence, analysts believe that Bitcoin’s price recovery reflected the underlying demand. Jeff Mei, chief operating officer at crypto exchange BTSE, said broader downside risks may be limited given that geopolitical disruptions don’t always translate into long-term economic damage. Mei added,
“Given that Iran has been isolated from global financial markets for quite some time, we believe that downside risk is limited. Some have been concerned about oil prices and their potential impact on inflation, but the world has been weaned off Iranian oil and increased supply from OPEC and the U.S. should be enough to stabilize prices.”
Several analysts believe that the real test for Bitcoin may come as tradirional markets fully digest the geopolitical shock. Highlighting the lag between crypto and traditional finance responses, Hayden Hughes, managing partner at Tokenize Capital said,
“The real price discovery happens Monday when US equity markets and Bitcoin ETFs reopen. With missiles hitting Dubai, Iranian retaliation across the Gulf, and Strait of Hormuz closure risk, this is not a contained event.”
For now, BTC’s volatility remains closely tied to macro signals. Traders are watching how US equities, ETF flows, and inflation expectations evolve in the coming days.
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