Investing.com– Bitcoin slipped to $66,000 levels in Asian trading on Monday, as a widening U.S.-Israel conflict with Iran sparked a broad risk-off mood across global markets.
The world’s largest cryptocurrency last traded 2.1% lower at $66,197.6 by 06:15 GMT.
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Bitcoin declined after US-Isreal strike on Iran
Bitcoin fell sharply over the weekend after joint U.S. and Israeli military strikes on Iran, including the reported killing of Supreme Leader Ayatollah Ali Khamenei, sparked one of the most serious escalations in the region in years.
Bitcoin had slid as low as roughly $63,000 over the weekend following the initial attacks, before steadying slightly.
U.S. President Donald Trump said the strikes would continue for as long as necessary to achieve their objectives, signalling sustained military pressure.
Iran retaliated with multiple waves of missile barrages targeting Israeli and U.S. military installations, while tensions spread, disrupting financial markets and shipping routes.
Oil prices jumped over 7% as fears of supply disruption around the Strait of Hormuz intensified. Gold prices climbed about 2%, reaching multi-week highs as traders sought security amid escalating geopolitical risk.
U.S. stock futures fell in Asian trading hours, pointing to a weaker Wall Street open, while major Asian equity benchmarks declined in early Monday trade.
Bitcoin’s recent performance continues to reflect its growing correlation with traditional risk assets rather than acting as a haven.
How the market evolves later this week will depend largely on whether geopolitical tensions continue to escalate or show signs of de-escalation.
Most altcoins slip; Cardano drops 5%
Most altcoins saw bigger losses than Bitcoin as investors avoided risky assets.
World no.2 crypto Ethereum lost 2.2% to $1,963.92.
World no. 3 crypto XRP fell 2.4% to $1.37.
Solana eased 2.4%, while Cardano dropped 5%, and Polygon declined 2%.
Among meme tokens, Dogecoin slipped 4%.
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