Bitcoin Dips Below $100K as Markets Brace for Possible Iranian Retaliation

Cryptocurrency markets saw sharp swings midday Monday after reports surfaced that Iran may be preparing attacks on U.S. bases in the Gulf region, sparking renewed geopolitical anxiety.

Bitcoin (BTC) briefly fell below $100,000, dipping to around $98,500 before recovering modestly to trade slightly above the key six-figure mark.

Other major digital assets also reversed earlier gains. Ether (ETH) slipped under $2,200, while XRP dropped below $2 before stabilizing close to those levels. The CoinDesk 20 Index lost roughly 3% during U.S. morning hours but remained slightly positive on a 24-hour basis.

Axios reported that the White House, under former President Donald Trump, was anticipating potential Iranian strikes on American military installations in the Gulf. The possible retaliation comes in response to U.S. airstrikes over the weekend that targeted three Iranian nuclear facilities. Bases in Qatar, the United Arab Emirates, and Kuwait were reportedly at risk.

According to Axios, Trump was preparing to meet with his national security team to assess the evolving situation.

“Bitcoin’s recent decline is being driven by a potent mix of geopolitical tensions and macroeconomic uncertainty,” said Kirill Kretov, senior automation expert at CoinPanel. “As conflict escalates in the Middle East, global risk appetite has dropped significantly.”