Bitcoin overcomes weekend losses with rise to $68,000
Bitcoin has erased weekend losses following US-Israeli strikes on Iran, rising more than 2 percent to $68,000 on Tuesday as the conflict entered its fourth day.
The cryptocurrency had dropped to $63,255 on Saturday as attacks began.
The token fell 15 percent in February, marking a fifth straight month of loss and a 48 percent drop from its all-time high of $126,500 marked in October 2025, according to investment trading company eToro.
Bitcoin’s biggest price drop was about as severe as the tech crash in the early 2000s, but it bounced back in little more than two years. In comparison, it took US tech stocks 15 years to recover fully from the dotcom bubble.
“Bitcoin has started March on the back foot amid rising geopolitical tensions in the Middle East, which have triggered a broader flight from risk assets,” Simon Peters, a UK-based crypto analyst at eToro, said in a statement.
While markets are pricing in a hold on US Federal Reserve rates, softer economic data could increase expectations of a cut, potentially supporting crypto prices, he added.
Bitcoin remains in a corrective phase based on daily charts, according to cryptocurrency exchange Binance.
“If the US and Iran officially agree to a ceasefire and the tension drops, bitcoin could move back up to the $72,000 to $80,000 range,” it said.
However, a sustained move above $80,000 will likely require broader macroeconomic support beyond ceasefire headlines, Binance said.
AGBI reported last month that Gulf sovereign wealth funds and financial institutions were pressing ahead with selective bets on bitcoin, signalling sustained conviction in digital assets despite a slump in crypto markets.
News on the Iran conflict:
- Forty-eight hours that shook the Gulf
- Gas disruptions in Middle East send prices soaring
- Emirates resumes ‘limited’ number of flights
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