Overview
- Bitcoin fell nearly 5% to roughly $63,000 within hours of confirmed U.S.-Israeli strikes on Iran, with Israel declaring a state of emergency, before partially rebounding toward $65,000.
- Altcoins dropped more sharply, with ether slipping to under $1,900 and tokens such as Solana, XRP and dogecoin losing about 5%–7% over the session.
- Forced deleveraging intensified the move, with more than $100 million liquidated within minutes and about $490 million over 24 hours, according to CoinGlass, as CoinGecko estimated $128 billion erased from crypto market value.
- February is on track to be bitcoin’s worst month since June 2022 and a fifth straight monthly decline, with BTC roughly 45%–50% below its October 2025 peak and about $3.8 billion in net U.S. spot ETF outflows over the past five weeks.
- Macro pressures—including a hotter-than-expected PPI reading, tariff and credit concerns—have weighed on risk appetite, while analysts split between bottom-formation signals and projections for potential lows in the $31,500–$38,000 range, with $60,000 and the 200-week moving average near $58,500 flagged as support.