Bitcoin Plunges 6 Percent Amid Israel-Iran Tensions
Bitcoin experienced sharp downward pressure over the weekend following heightened geopolitical tensions between Israel and Iran, which triggered sell-offs in risk assets across financial markets.
According to CoinMarketCap monitoring on Saturday, 28 February 2026, Bitcoin’s price plummeted from $65,000 to around $63,000 (approximately 1 billion Indonesian rupiah per coin), following reports of combined US-Israeli military strikes against Iran.
Bitcoin declined more than 6 percent in a short period before attempting to stabilise above the $63,000 level. The decline occurred amid elevated volatility as investors reduced exposure to speculative assets in a “risk-off” environment characterised by risk aversion, according to Yahoo Finance.
This market reaction reflects Bitcoin’s sensitivity to global uncertainty, particularly when large-scale Middle Eastern conflicts emerge and heighten investor anxiety. Similar patterns have been observed in previous conflicts, where Bitcoin declined before recovering within days.
In contrast to cryptocurrency, assets such as government bonds, gold, and the US dollar recorded price gains, according to Forbes reporting from KompasTekno. Market analysts assess that Bitcoin’s sharp price reaction reflects investor perception that continues to view cryptocurrency as a risk asset rather than a safe haven, particularly in the early phase of major geopolitical crises.
The sudden decline was further exacerbated by liquidation pressure in derivatives markets, where substantial long positions were forcibly closed as prices moved downward. Israel’s military strikes on Iran created an abrupt shock across global financial markets, deepening concerns about a wider conflict and prompting both institutional and retail investors to adopt defensive measures.
However, should the situation ease through diplomatic channels, near-term rebound opportunities remain available, as some investors view the price decline as an entry point. Market participants will continue monitoring geopolitical developments as a key driver of cryptocurrency volatility in coming days.