Bitcoin Price Steadies Near $65K as US-Iran War Shakes Markets

Bitcoin held relatively firm early Monday in Asia even as regional equities fell and energy markets surged following a sharp escalation in the U.S.-Iran conflict. Traders moved cautiously after a volatile weekend marked by reports that Ayatollah Ali Khamenei, Iran’s supreme leader, was killed in a joint U.S.-Israeli strike. The broader crypto market softened slightly but showed a steadier profile than traditional assets as the new trading week began.

Bitcoin slipped about 1% over the past 24 hours to trade near $65,831. Ethereum declined 2.2% to $1,935, while Solana fell 1.5% to $83.42. The weekend saw Bitcoin move between roughly $63,000 and $66,000 as traders assessed the geopolitical shock and its potential to influence global risk sentiment.

Geopolitical Tensions Drive Market Divergence

The conflict continued to dominate investor attention after Gulf states warned they may respond to the strikes that killed at least five civilians, according to reports. President Donald Trump said the United States would “avenge” the deaths of American troops in the region, adding another layer of uncertainty to an already tense backdrop. Despite the headlines, crypto markets showed a measured reaction, reflecting the asset class’s tendency to absorb weekend risk more quickly due to continuous trading.

Bitcoin’s moves were modest compared with past risk-off episodes, especially considering the asset has already fallen nearly 50% from its October 2025 peak. The market’s ability to hold near the $65,000 to $66,000 range suggested traders were treating the conflict as a temporary risk premium rather than the start of a deeper downturn. That steadiness contrasted with the sharper declines seen in Asian equities once traditional markets reopened.

Japan’s Nikkei 225 dropped more than 2.5% at midday, while the Topix fell nearly 3%. Hong Kong’s Hang Seng and Singapore’s Straits Times Index each slipped close to 2%, and Taiwan’s Taiex declined about 0.9%. South Korean markets were closed for a public holiday, limiting regional trading activity.

Oil prices jumped in early Asian trading, with Brent crude hovering around $78 per barrel, up more than 7% over the past day. Gold also climbed, rising 1.9% to $5,381 an ounce as investors sought safety. Energy markets remain a key transmission channel for geopolitical stress, and a sustained move in crude toward $90 could tighten global liquidity by lifting inflation expectations and strengthening the U.S. dollar.

For now, crypto continues to trade in line with broader macro sentiment but has shown relative stability compared with traditional assets. The path forward will depend heavily on developments in the U.S.-Iran conflict, the direction of oil prices, and how inflation expectations evolve across global markets.