Bitcoin Crashes Below $65K as Houthis Enter Iran War — Then Bounces Back
Bitcoin plunged to $65,112 early Monday — its lowest since the February crash — after Houthi forces entered the Iran war, opening a dangerous new front. Then buyers stepped in.
What Happened
The conflict’s fifth week brought its widest escalation yet. Iran-backed Houthi forces opened a new front beyond the direct US-Israel-Iran theater. Additional US troops arrived in the Middle East, stoking fears of a ground operation. The Wall Street Journal reported Trump is weighing a military operation to remove enriched uranium from Iran.
As the headlines hit, crypto sold off hard. BTC dropped to $65,112 before recovering to $67,402 as Asian markets opened. ETH bounced 2% to $2,044, Solana gained 0.9% to $83.48, and XRP added 1.4%.
The Broader Market Picture
Brent crude surged 2.5% to around $115 a barrel — up roughly 90% year-to-date. Asian equities crashed, with South Korea’s benchmark down 3.2% and Japan’s Nikkei dropping 3.4%. The war’s economic damage is spreading beyond oil: Iran attacked two aluminum production sites, sending the metal up 6% and extending disruptions into industrial commodities.
What’s Next for Crypto
The $65,000 level is now a critical support — it’s held through the war’s opening weekend and now again during the biggest escalation. Tron is quietly outperforming, up 2.6% daily and 4.6% weekly. The market is volatile but resilient. If geopolitical tensions stabilize, expect a relief rally. If the conflict widens further, brace for another test of that $65K floor.
Source: CoinDesk
