TLDR
- BTC plummeted approximately 5% to the $63,000 level following U.S. and Israeli military operations targeting Iran
- This marked BTC’s lowest valuation since the February 5 market downturn when prices briefly fell under $60,000
- Israel Katz, Israel’s Defense Minister, announced a nationwide state of emergency
- BTC’s continuous 24/7 market operations position it as an immediate outlet for risk-averse trading when conventional markets close
- Market participants dumped bitcoin positions as it represented one of few highly liquid instruments accessible during weekend hours
The leading cryptocurrency experienced a significant downturn on Saturday, February 28, 2026, plummeting toward the $63,000 mark following military strikes executed by the United States and Israel against Iranian targets.
The sudden decline represented approximately 5% of BTC’s value disappearing within minutes for the flagship digital currency.
This price level marked the lowest point for bitcoin since the market crash on February 5, during which BTC momentarily traded beneath the $60,000 threshold.
Israel Katz, serving as Israeli Defense Minister, announced a comprehensive state of emergency throughout the nation immediately following the commencement of military operations.
American involvement in the strikes was verified by a U.S. official, as documented in reporting from The Wall Street Journal.
Israeli authorities characterized the military action as a “preemptive strike,” per Reuters reporting that cited official statements from the defense ministry.
Why Bitcoin Sold Off First
Unlike traditional equity and bond markets that close for weekends, Bitcoin operates continuously without interruption, maintaining liquidity 24 hours a day, every day of the week.
This continuous trading schedule positions BTC as among the few major liquid instruments available for traders to liquidate when risk events materialize outside conventional trading hours.
This phenomenon has occurred previously. Bitcoin frequently experiences rapid selloffs during geopolitical crises, often rebounding after traditional market venues resume operations.
“Bitcoin just dropped off a cliff,” commented one market observer on X, further predicting that “Monday will be a bloodbath in the market.”
Geopolitical Context
The military operations come after several weeks of American military force accumulation and unsuccessful nuclear diplomacy efforts with Tehran.
Market analysts had been debating potential implications of Iranian conflict scenarios for bitcoin, precious metals, and equity markets.
The strikes elevate the possibility of expanded regional warfare in one of the planet’s most economically critical zones.
BTC’s price action has diverged from gold’s trajectory in recent months, challenging its narrative as a safe-haven or “digital gold” investment vehicle.
As of Saturday morning hours, bitcoin was changing hands around the $63,000 level, with additional volatility anticipated when conventional financial markets reopen Monday.
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