Bitcoin slid below $65,000 on Sunday, hitting $64,831.54 — a 1.52% drop — as U.S. President Donald Trump threatened a 'massive attack' on Iran. The threat followed Houthi attacks targeting Saudi oil tankers, adding a fresh layer of uncertainty to global markets.
The Iran threat
Trump's warning came after Houthi rebels, backed by Iran, struck Saudi oil tankers in the Red Sea. The president didn't specify a timeline or target, but the language was blunt: 'massive attack.' The region has been on edge for weeks, and this latest escalation raises the stakes for both energy markets and risk assets like crypto.
Market reaction
Bitcoin's move below $65,000 is modest in percentage terms, but the level is psychologically important. The cryptocurrency had been hovering near that mark for days. The dip accelerated shortly after Trump's statement crossed the wire. Trading volumes picked up, though no exchange reported unusual outages or liquidity issues.
What traders are watching
No one knows if Trump will follow through. The Houthi attacks themselves didn't directly target crypto infrastructure, but any military action in the Strait of Hormuz could disrupt oil flows and send shockwaves through all markets. For now, Bitcoin is acting like a risk-off asset — selling off alongside equities futures in early Asian trading.
The coming days will show whether the threat escalates into actual strikes, and how deep the selloff goes. Crypto traders are used to geopolitical noise, but a direct U.S.-Iran confrontation would be uncharted territory for this cycle.
