Bitcoin hits $ 66,000 after Iran’s attacks on US military bases

On Saturday, February 28, the geopolitical escalation in the Middle East had an immediate impact on financial markets. Bitcoin BTC $65,912.72 Mezo Wrapped BTC -0.74% Market capitalization $36.15 million VOL. 24 hours $1.53 billion , which rose to almost $ 67,000 in the morning hours of the Asian session, quickly slipped below $ 66,000 after reports of new attacks by Iran.

According to open sources, Iranian forces launched missile strikes on US facilities in Bahrain, Kuwait, and the UAE, and attacked the Ras Tanura oil refinery of Saudi Aramco. At the same time, Israel carried out regular air strikes on Hezbollah’s positions in Lebanon.

Against the backdrop of these events, S&P 500 futures lost 1.4% and fell to 6,790 points, while oil prices in both Atlantic markets rose by more than 7%. This confirms the classic reaction of markets to military conflicts — a rise in the cost of raw materials and a drop in risky assets.

Analysts note that Iran’s strategy is to increase the cost of the conflict for the United States by striking neighboring countries and attempting to disrupt energy supplies through the Strait of Hormuz. Such actions create inflationary pressure, increase deficits, and change investor sentiment.

Despite expectations that bitcoin could prove to be a «safe haven asset,» it is currently showing no signs of growth amid the crisis. The cryptocurrency market reacts in sync with stock indices, confirming its high dependence on geopolitical risks and the global macroeconomic situation.