Bitcoin took a quick hit Monday after Iran's Islamic Revolutionary Guard Corps claimed it had struck US military bases in Bahrain and Kuwait. The world's largest cryptocurrency briefly slipped below $100,000, touching $99,500 before bouncing back above $102,000 as markets weighed the severity of the claims.
The IRGC's claim
The IRGC said it targeted American installations in the two Gulf states. The announcement came without immediate confirmation from US or local authorities. The timing isn't great for a market already on edge about geopolitical risks this year.
Bitcoin's reaction
The dip below $100,000 was short-lived — about 20 minutes before buying pressure pushed prices back up. By late morning, Bitcoin was trading around $102,300, roughly flat on the day. The quick rebound suggests traders saw the move as a knee-jerk reaction rather than the start of a deeper sell-off.
What traders are watching
For now, the market is waiting for official responses from Washington or the affected countries. If the claims are verified or escalate, Bitcoin could face another test of the $100,000 level. If they're dismissed or de-escalated, the brief dip may be forgotten by tomorrow's open.
