Bitcoin fell sharply to $58,300 on Saturday, marking its steepest intraday drop in three months, as reports confirmed coordinated airstrikes by the United States and Israel against Iranian military targets. Markets across equities, oil, and bonds reacted with heightened volatility, signaling a global risk-off shift.
- Bitcoin dropped 12% to $58,300 on Saturday
- S&P 500 futures fell 2.1% amid global risk-off sentiment
- Brent crude rose 8.3% to $97.60 per barrel
- U.S. 10-year Treasury yields climbed 14 basis points to 4.78%
- Gold rose 3.2% to $2,145 per ounce
- Unverified reports confirm U.S.-Israel strikes on Iranian military targets
Bitcoin plunged 12% during late Saturday trading, slipping below $58,500 amid escalating military activity in the Middle East. The decline followed confirmation of a joint U.S.-Israel operation targeting Iranian defense installations, according to unverified but widely circulated intelligence reports. The digital asset’s rapid depreciation underscored investor flight to safety as geopolitical tensions spiked. The sell-off extended beyond crypto. The S&P 500 futures dropped 2.1%, while Brent crude surged 8.3% to $97.60 per barrel, reflecting fears of supply disruptions. U.S. 10-year Treasury yields rose 14 basis points to 4.78%, indicating a flight from risk assets. Gold, traditionally a safe haven, rose 3.2% to $2,145 per ounce, reinforcing the market’s risk-averse posture. The coordinated military strike—executed from airbases in the Gulf and involving stealth aircraft—targeted radar systems, missile storage facilities, and command centers in central and western Iran. Iranian state media reported limited damage but confirmed civilian casualties. No official casualty figures were released by the Pentagon or Israeli Defense Forces. Financial markets are bracing for continued turbulence into the coming week, with major exchanges operating on reduced capacity due to the weekend action. The Federal Reserve has not yet issued a statement, but futures markets now imply a 65% probability of a pause in rate hikes at the upcoming March meeting, driven by inflation concerns amid growing geopolitical risk.