Bitcoin started the week under pressure, falling to as low as $65,112—its weakest level since the steep February sell-off. The world’s largest cryptocurrency then regained some ground when Asian markets opened, climbing to $67,402. Over the past 24 hours, Bitcoin fluctuated between $65,112 and $67,389, demonstrating rapid selling followed by equally quick buying as investors responded to global developments.
Geopolitical tensions steer global markets
Recent intensification of conflict in the Middle East played a central role in shaping price movements for Bitcoin and other major digital assets. The entry of Iran-backed Houthi forces into the clashes, combined with the United States deploying additional military units to the region, heightened investors’ sense of geopolitical risk. Moreover, Iran’s attack on two local aluminum plants fueled volatility not only in oil, but also in the industrial metals market. These ripple effects have brought about notable uncertainty across various asset classes.
Energy and commodity prices spike amid conflict
Brent crude prices saw a significant jump of about 2.5%, reaching $115 per barrel, as oil responded sharply to regional tensions. Aluminum also surged, with prices spiking up to 6% after the reported attacks. These swings underscore how quickly and widely geopolitical events can reshape the economic landscape, affecting everything from energy to raw materials.
In a development reported by the Wall Street Journal, it was said that Donald Trump is weighing a potential military operation aimed at extracting uranium in Iran, though no final decision has yet been made on this front.
The concurrent jumps in both energy and industrial commodities reveal how the ongoing conflict is beginning to spill into broader economic arenas, leaving markets grappling with heightened unpredictability.
Cryptocurrencies lag as weekly losses deepen
Against this backdrop, major cryptocurrencies struggled to maintain their footing. Over the past week, Bitcoin dropped 1%, with Ethereum down 0.9%, XRP off by 1.9%, and Solana shedding 3.7%. Tron bucked the trend, climbing 2.6% in the last 24 hours and gaining 4.6% on a weekly basis for the standout performance among leading digital coins.
In early Monday trade, Ethereum rebounded 2% to $2,044. Solana rose 0.9% to $83.48, and XRP gained 1.4% to $1.35. Still, on a longer weekly view, the dominant trend for most digital assets was downward, with pressure visible across the board.
Technical analysis of Bitcoin’s chart is receiving close attention from market observers. The early-morning low of $65,112 revived comparisons with the $64,000 level seen at the outbreak of the conflict in late February. For the first time in five weeks, Bitcoin’s price broke through a key support zone to the downside, marking a shift after repeated upward moves on past geopolitical news.
Looking ahead, questions remain whether Bitcoin can rebound to reestablish its upward trajectory, or if lower levels will become the new norm. Volatility continues to grip global financial markets, with speculation growing that the U.S. Federal Reserve’s timeline for potential interest rate cuts could be extended further in light of the fresh uncertainty.
