What next for bitcoin as Iran attacks U.S. bases in the Gulf

Tehran launched waves of missiles and drones targeting Israel, U.S. bases and Gulf allies, with explosions reported in Dubai, Kuwait and Bahrain. Bahrain confirmed an American military base had been attacked, Qatar and the UAE said they intercepted missiles and Bahrain closed its airspace.

Iran’s semi-official Tasnim news agency said all U.S. bases and interests in the region would be targeted. Bitcoin, which had already fallen below $64,000 on the initial Israeli strikes, held above $63,000 as the retaliatory wave hit. Weekend liquidity is thin, and many leveraged positions that would amplify a sell-off were already flushed during the week’s slide from $70,000.

The real test comes when traditional markets reopen on Monday. Bitcoin can absorb the first wave of geopolitical selling because it trades on a Saturday afternoon while equities, oil and bonds do not; if those markets gap sharply lower, bitcoin could face a second wave of risk‑off selling as portfolio managers de‑risk across all asset classes.

Iran, Gulf

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