Bitcoin staged a sharp rebound on Saturday, climbing to 67,000 dollars after earlier tumbling to 63,000 amid escalating tensions in the Middle East.
The dramatic swings appear tied to fast moving developments in Iran. Earlier in the day, Israel and the United States launched strikes against Iranian targets. Iran responded with actions affecting several countries in the region, including the UAE, Bahrain, Qatar, and Saudi Arabia.
Volatility intensified after unconfirmed reports from Israeli sources claimed that Iran’s supreme leader, Ali Khamenei, had been killed. There has been no official confirmation of the claim.
US President Donald Trump also commented on the situation, warning of further military measures if Iran does not curb its nuclear ambitions.
With traditional markets closed over the weekend, crypto became the primary venue reacting in real time. Bitcoin initially fell from 66,000 to 63,000 within minutes of the first strike reports, dragging altcoins lower. As new headlines emerged, the asset reversed course and rallied strongly, briefly touching 67,000 as traders responded to the latest developments.
