Bitcoin Suddenly Crashes to US$63,000 Following US and Israeli Strikes on Iran

The world’s largest cryptocurrency, Bitcoin, came under sharp pressure following military strikes by the United States and Israel against Iran. Bitcoin’s price fell sharply to near US$63,000 during Saturday trading on 28 February 2026.

The decline occurred rapidly, with Bitcoin losing approximately 3 per cent within hours. This level approached the previous low of below US$60,000 recorded on 5 February 2026.

Although Bitcoin briefly recovered to touch the US$65,000 range, it weakened again to around US$64,700 as the conflict continued to develop through Saturday, 28 February 2026. This movement indicated that selling pressure continued to dominate the cryptocurrency market.

According to CoinMarketCap data as of 08:41 Western Indonesia Time on Sunday, 1 March 2026, Bitcoin showed a recovery of 1.31 per cent over the preceding 24 hours. The increase pushed Bitcoin’s price to US$66,762.06, equivalent to approximately Rp 1.12 billion (at an estimated exchange rate of Rp 16,800 per US dollar).

According to Coindesk, analysts observed that Bitcoin’s weakness followed a pattern commonly seen when geopolitical shocks emerge. Unlike shares or bonds with limited trading hours, Bitcoin trades 24 hours a day, seven days a week. This makes Bitcoin one of the most liquid assets that investors can immediately sell when global risks increase, particularly when traditional markets close at weekends.

As a result, Bitcoin often functions as a pressure relief valve for global risk-off sentiment, absorbing selling activity that would normally occur in share markets, commodities, and currency markets.

Nevertheless, Bitcoin’s inability to remain above the US$65,000 level suggests that market participants remain cautious.

Volatility risks for Bitcoin remain elevated due to rising geopolitical tensions in the Middle East, one of the world’s most strategically important regions for the global economy. This heightens uncertainty in financial markets, including cryptocurrency assets.

Given its highly liquid characteristics and continuous trading without interruption, Bitcoin is expected to remain sensitive to conflict developments and global risk sentiment in the short term. Investors are now monitoring whether Bitcoin can maintain its position above the psychological US$60,000 level, or whether it might weaken further if the conflict continues to escalate.