Bitcoin Climbs Back Above $102K Despite Escalating Tensions in Gulf
Bitcoin regained ground on Monday, trading above $102,000 even as fresh geopolitical turmoil rippled through global markets.
The leading cryptocurrency briefly slipped to $99,500 after Iran reportedly launched missile strikes against U.S. military bases in the Gulf region, including facilities in Qatar, Kuwait, Bahrain, and the United Arab Emirates. The attacks were said to be retaliation for U.S. airstrikes over the weekend that targeted three of Iran’s nuclear facilities. A Qatari official confirmed that the strikes in Qatar caused no casualties or injuries.
Despite the initial shock, bitcoin bounced back swiftly, climbing 2.9% over the past hour to trade near $102,400. It remains up 2.5% over the past 24 hours, while the CoinDesk 20 Index—which tracks major crypto assets excluding stablecoins, memecoins, and exchange tokens—has risen 2.1% in the same timeframe.
Traditional markets were less reactive. Gold nudged higher to about $3,380 per ounce, while oil prices slid roughly 4% on the day.
“Crude getting crushed. Good sign,” Sean Farrell, head of digital asset strategy at Fundstrat, posted on X.
“Historically, geopolitical shocks trigger sharp but short-lived sell-offs that often rebound depending on how severe the threat becomes and how communication unfolds,” said Nicolai Søndergaard, research analyst at blockchain analytics firm Nansen.
Søndergaard added that while some “smart money” is shifting slightly risk-off, significant exchange outflows suggest opportunistic buyers are stepping in to accumulate bitcoin during the dip.
