Bitcoin (BTC) plunged to a low of $100,979 after US President Donald Trump announced that the United States conducted successful strikes on key nuclear sites in Iran.
The flagship cryptocurrency is down nearly 1% over the past 24 hours, trading around $102,700.
Bitcoin (BTC) Slumps As US Strikes Key Sites In Iran
US President Donald Trump announced that the United States had conducted successful airstrikes targeting key nuclear installations in Iran. Markets plunged after the announcement, with BTC dropping to a low of $100,979 as traders panicked. Trump took to Truth Social to state,
“We have completed our very successful attack on the three Nuclear sites in Iran, including Fordow, Natanz, and Esfahan. A full payload was dropped on the primary site, Fordow. All planes are safely on their way home. Congratulations to our great American Warriors. There is no other military in the world that could have done this. NOW IS THE TIME FOR PEACE!”
Bitwise CEO Believes US Treasuries Are Bitcoin’s Primary Rival
Bitcoin has taken a key yet controversial role in global finance, competing with traditional and newer stores of value. Bitwise CEO Hunter Horsley shared his views about the flagship cryptocurrency, stating that he believes that rather than gold, Bitcoin’s main competition is US Treasuries and other government bonds. Horsley called them the ultimate store of value, stating,
“I don’t think Bitcoin’s competition will end up being gold. Rather, I think Bitcoin’s competition is going to end up being US Treasuries and other government bonds, the ultimate political stores of value.”
Horsley explained that while gold and Bitcoin offer different levels of volatility, both attract investors looking for alternatives to traditional monetary assets. Horsley also outlined differences between institutional and individual investors. He noted that for individual investors, real estate was the primary store of value, questioning if residential real estate could be the true total addressable market for Bitcoin, moving the comparison from financial instruments to tangible wealth preservation assets. He also highlighted the evolving obstacles for Bitcoin investments, stating,
“It used to be that ‘regulatory uncertainty’ was Bitcoin’s biggest obstacle for investors. This is no longer the case in 2025, which is a huge unlock. Its impact still hasn’t fully manifested.”
Michael Saylor Doubles Down On Bitcoin
Strategy founder and executive chairman Michael Saylor has doubled down on Bitcoin (BTC)’s long-term value despite global tensions and uncertainty. Speaking at the keynote speech at the BTC Prague 2025 event, Saylor predicted BTC could reach $21 million in 21 years.
“I think we’re going to be $21 million in 21 years. It's a very special time in the network. Maybe the one time in the history of the network where you look out 21 years and you see $21 million.”
Saylor made a similar, albeit more conservative prediction at the Bitcoin 2024 conference in Nashville, where he said the flagship cryptocurrency would hit $13 million by 2045. Saylor stated that his bullishness on Bitcoin is based on several geopolitical, regulatory, and adoption developments.
“Stuff that’s happened in the past 11 months has been extraordinary. The White House has embraced Bitcoin. This is an extraordinary development. We didn’t anticipate this.”
He also said he was always bullish on the asset, even when it plunged to $16,000 during the last crypto winter.
“Although we thought we might have a pro-Bitcoin president, we didn't think we'd get a strategic Bitcoin reserve. We didn't think that the president would say America would be the Bitcoin superpower of the world. This is an amazing development.”
Bitcoin (BTC) Price Analysis
Bitcoin (BTC) slumped to a low of $100,979 as market sentiment plunged after the US entered the Israel-Iran conflict, conducting airstrikes on key nuclear sites in Iran. Expectations of a recovery after Friday’s decline were further dampened, as the flagship cryptocurrency struggles to regain key levels. Market sentiment turned bearish on Friday, with traders wary of possible US involvement in the escalating situation in the Middle East.
BTC’s latest decline was triggered by Israel’s attack on Iran, which led to over $450 million in long positions liquidated in 24 hours, compared to $60 million in short positions. According to an analyst from CryptoQuant, the liquidation was a “cleansing of latecomers chasing the rally.”
“Historically, BTC has shown bullish tendencies following rate stabilization, especially when paired with signs of liquidation exhaustion and fading open interest.”
BTC started trading in positive territory the previous week, surging over 4% to cross the 20-day SMA and $110,000 to settle at $110,247. The price fell to a low of $108,325 before recovering to register a marginal increase and settle at $110,258. BTC lost momentum on Wednesday, falling 1.43% to $108,686. Bearish sentiment intensified on Thursday as the flagship cryptocurrency fell nearly 3%, slipping below the 20-day SMA and settling at $105,826. The price plunged to an intraday low of $102,854 on Friday as selling pressure persisted. However, it recovered from this level to register a marginal increase, reclaim $106,000, and settle at $106,106. Price action was mixed over the weekend as BTC fell 0.59% on Saturday before registering a marginal increase on Sunday to settle at $105,561.
Source: TradingView
BTC raced to an intraday high of $108,939 on Monday. However, it could not stay at this level and settled at $106,808, ultimately registering an increase of 1.18%. Bearish sentiment returned on Tuesday as the price fell over 2%, slipping below the 20-day SMA and $105,000 to settle at $104,519. Despite facing volatility and selling pressure on Wednesday, BTC registered an increase of 0.35% but fell 0.24% on Thursday to settle at $104,631. BTC raced to an intraday high of $106,513 on Friday but lost momentum after reaching this level and settling at $103,388. The price plunged below $101,000 on Saturday as market sentiment worsened. However, it recovered to reclaim $102,000 and settle at $102,180. The current session sees BTC marginally up, trading around $102,558.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
