Bitcoin dropped 12% to $58,200 on February 28, 2026, following coordinated military strikes by the United States and Israel against Iranian targets. Crude oil surged 8.3% to $94.60 per barrel as markets priced in heightened regional instability.
- Bitcoin fell 12% to $58,200 following U.S.-Israel strikes on Iran
- Brent crude oil rose 8.3% to $94.60 per barrel
- WTI crude gained 7.9% to $89.40 per barrel
- German DAX declined 3.6%, Nikkei 225 dropped 4.1%
- Gold rose 3.5% to $2,145 per ounce
- Japanese yen strengthened 2.7% against the U.S. dollar
Global financial markets reacted sharply to military action launched by the United States and Israel against strategic facilities in Iran on February 28, 2026. Bitcoin, often viewed as a speculative hedge during geopolitical unrest, reversed its recent rally and fell 12% to $58,200 within hours of the strikes, signaling a flight to traditional safe-haven assets. The digital asset's volatility underscored investor nervousness despite its reputation as a store of value during crises. The broader market impact was immediate. Brent crude oil jumped 8.3% to $94.60 per barrel, while U.S. West Texas Intermediate (WTI) crude climbed 7.9% to $89.40, reflecting concerns over potential disruptions to energy supplies from the Persian Gulf. Equity indices in Europe and Asia posted sharp declines, with the German DAX down 3.6% and Japan’s Nikkei 225 falling 4.1% in early trading. Commodities and safe-haven currencies gained traction. Gold rose 3.5% to $2,145 per ounce, and the Japanese yen strengthened 2.7% against the U.S. dollar. The surge in oil and gold prices suggested that investors were pricing in a higher risk premium due to escalating tensions in the Middle East. The developments underscored how rapidly geopolitical shocks can reshape asset valuations. While Bitcoin has been touted as a decentralized alternative to national currencies, its performance during the crisis demonstrated susceptibility to risk-off sentiment, particularly when systemic supply chain and energy risks emerge.