Bitcoin retreated from weekend highs near $64,000 as renewed military exchanges between Israel and Iran rattled global markets. Oil prices surged more than 3 percent while Asian equity indexes tumbled. The moves followed a short-lived rebound that had lifted the cryptocurrency above $60,000.
Data showed Bitcoin trading around $62,900 to $63,316 early Monday, after reaching an intraday peak of $64,128 during a short squeeze. The pullback coincided with Israeli airstrikes on Iranian sites including a petrochemical plant in Isfahan and Iranian missile launches toward northern Israel. U.S. President Donald Trump urged restraint, stating he would call Israeli Prime Minister Benjamin Netanyahu to prevent further retaliation. Oil benchmarks rose sharply, with Brent crude reaching $97.15 a barrel and West Texas Intermediate at $94.61. South Korea’s KOSPI index fell more than 6.8 percent, triggering a trading halt, while Japan’s Nikkei dropped over 3 percent. Analysts noted the Bitcoin advance appeared mechanical, with futures open interest declining and no clear sign of fresh spot demand. Traders warned that without sustained buying the price could quickly test the $60,000 level again amid elevated geopolitical tension and upcoming U.S. inflation data.
