Casablanca – Bitcoin slipped back today as global markets reacted to rising tensions between the US and Iran and a sharp jump in oil prices. On Saturday, a US-Israel operation hit Iran in a series of strikes in which they killed Supreme Leader Khamenei.
After briefly climbing over the weekend, the world’s largest cryptocurrency fell to around $66,700, down about 1% in 24 hours. The earlier bounce toward $68,000 faded as traders digested developments that unfolded while traditional markets were closed.
Other major cryptocurrencies also declined. Ether dropped roughly 2.5% to just under $2,000. Solana fell more than 4%, and XRP lost around 3%. Losses were not dramatic, but they were broad. The mood across crypto markets turned cautious as soon as stock and energy markets reopened.
Oil prices were the biggest driver. Brent crude jumped more than 6%, trading near $77 a barrel after briefly spiking even higher.
The surge followed concerns over the Strait of Hormuz, a key shipping route through which about one-fifth of the world’s oil supply passes. Disruptions or threats to that route tend to move energy markets quickly, and this time was no different.
Stock markets reflected the same tension. Asian equities fell around 1%, and US stock futures were lower. Investors shifted money into traditional safe havens such as gold and government bonds.
When uncertainty rises, traders often pull back from riskier assets. Cryptocurrencies are still seen as part of that risk category.
Higher oil prices also raise concerns about inflation. Energy costs feed directly into transportation and production expenses, which can push consumer prices up.
If inflation remains elevated, central banks may delay interest rate cuts, which can affect crypto because lower rates usually support risk assets by making borrowing cheaper and increasing liquidity in the financial system.
Bitcoin has increasingly moved in line with broader financial markets during periods of stress. Instead of acting like digital gold, it has tended to trade more like technology stocks, rising when risk appetite improves and falling when investors grow cautious.
Despite Monday’s decline, Bitcoin remains well above levels seen earlier in the year. Still, price swings over the weekend and at the start of the week show how quickly global events can ripple through digital asset markets.
Traders are now watching energy prices and geopolitical developments closely, as both continue to shape sentiment across financial markets.
Read more: Gas Prices Spike 50% as Iran Strikes Force Qatar to Halt LNG Output
