Israel also declared a state of emergency because it expects a quick response from Iran.
Increased price volatility continues this week as Bitcoin once again quickly lost value, falling to a multi-day low of $63,600.
The latest problem is likely caused by the rapid global tensions, especially between two old enemies – Iran and Israel.
The tragic story began less than half an hour ago on Saturday morning, when several media outlets reported that Israel had launched a “preemptive strike” against Iran. Former Defense Minister Israel Katz has declared a national emergency as they expect Iran to respond with drone strikes and other attacks.
US President Donald Trump officially announced that they have launched a “major military operation” in the country.
– Donald J. Trump (@realDonaldTrump) February 28, 2026
Similar events have affected the price of Bitcoin in the past and this time is no different. With the cryptocurrency space being the only financial market open over the weekend, the implications were immediate.
In a matter of minutes, Bitcoin went from $66,000 to $63,600 before recovering a ground to $64,000. However, assets are down more than four grand since yesterday, when $68,000 was rejected.
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Earlier, it touched $70,000 on Wednesday after breaking from a multi-week low of $62,500 hit a day earlier. Altcoins have experienced similar volatility, with many down 2% or more in the past hour alone.
As a result, the liquidation increased again, reaching 450 million dollars in a 24-hour time frame. $185 million of the total was raised in the last hour alone.
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