- Bitcoin dipped below $100K amid reports that Iran may target U.S. military bases.
- Ethereum and XRP also reversed gains, reflecting broader crypto market anxiety.
- Tensions rose after U.S. airstrikes on Iranian nuclear sites over the weekend.
Cryptocurrencies saw a sharp reversal during midday U.S. hours on Monday as geopolitical tensions flared. Bitcoin, which had bounced overnight, dropped back below the critical $100,000 mark following reports that Iran was preparing to strike U.S. military bases in the Middle East. The sudden shift in sentiment sent shockwaves through the broader market.
Major Coins Slide on War Concerns
Ethereum’s ETH followed suit, slipping below $2,200, while XRP fell under the $2 threshold. Bitcoin briefly dipped to $98,500 before recovering slightly above $100K at press time. The declines erased nearly all of the gains from earlier in the day as anxiety grew over a possible military escalation between Iran and the United States.
White House Prepares for Potential Attack
According to Axios, the Trump administration is bracing for retaliation after the U.S. bombed three Iranian nuclear facilities over the weekend.
The president was reportedly preparing for a high-level security meeting as concerns mounted about attacks on U.S. assets in the Gulf. Market participants reacted swiftly to the headlines, pulling capital out of high-risk crypto assets.
