BREAKING: Bitcoin Price Drops Below $64,000 as US and Israel Attack Iran

Israel has also declared a state of emergency as it expects swift retaliation from Iran.

The increased price volatility this week continues as Bitcoin has once again begun to rapidly lose value, falling to a multi-day low of well below $63,600.

The latest step down was likely prompted by rapidly escalating global tensions, especially between the two old enemies – Iran and Israel.

The groundbreaking story began developing less than half an hour ago on Saturday morning as multiple news outlets broke the news reported that Israel had launched a “preemptive strike” against Iran. Former Defense Minister Israel Katz has declared a state of emergency in the country as they expect retaliation from Iran through drones and other attacks.

US President Donald Trump has officially announced that they have begun “major combat operations” in the country.

pic.twitter.com/BZuJDudLej

— Donald J. Trump (@realDonaldTrump) February 28, 2026

Similar examples in the past have affected the price of Bitcoin, and this time is no different. Considering that the cryptocurrency space is the only financial market open during the weekend, the effects were immediate.

In the space of just a few minutes, Bitcoin went from $66,000 to $63,600 before recovering some ground to $64,000. However, the asset has fallen by more than $4,000 since yesterday when it was rejected at $68,000.

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Before that, it peaked at $70,000 on Wednesday after bouncing from a multi-week low of $62,500 a day earlier. The altcoins have experienced similar volatility, with many coins down 2% or more in the past hour alone.

As a result, liquidations are increasing again, reaching $450 million on a 24-hour scale. $185 million of the total came in in the last hour.