Bitcoin price rebound wobbles as Israel defies Trump and hits Iran, sending oil back toward $100
Bitcoin’s weekend rebound faded after renewed Israel-Iran fighting pushed investors out of risk assets and lifted oil prices. BTC briefly hit $64,128 but slipped back to about $63,316, leaving the market close to fragile $60,000 support. The new escalation ended a two-month truce, with Israeli strikes in Iran and Iranian missile retaliation worsening geopolitical risk and complicating US-led diplomacy. The macro shock hit energy markets hard: Brent and WTI rose about 4.5%, as traders priced in disruption risk around the Strait of Hormuz. Equities sold off, especially in Asia, while crypto remained under pressure from recent ETF outflows, Strategy’s first Bitcoin sale since 2022, and last week’s 16% drop. Analysts said the bounce was mostly mechanical short-covering, not real demand. Futures open interest fell while funding stayed positive, suggesting leverage was being reduced. Sentiment remains weak, with “Extreme Fear” dominating, so Bitcoin may quickly retest $60,000 unless fresh buyers step in.
