Crypto Crash
Bitcoin drops to $63,000 after US and Israel strike Iran
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The United States and Israel launched military strikes on Iran on February 28, 2026, prompting President Donald Trump to announce major combat operations aimed at preventing nuclear weapon acquisition. Bitcoin fell approximately 7% to around $63,000, while the broader crypto market lost over $70 billion in value amid heavy liquidations. Tokenized gold assets surged as investors sought safe havens amid escalating Middle East tensions.
A sharp decline in cryptocurrency prices has spotlighted Donald Trump's increasing involvement in the sector. Bitcoin dropped to 2021 levels, while Trump-linked meme coins suffered even greater losses. Questions about transparency in the Trump family's crypto dealings have intensified amid the turmoil.
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Bitcoin fell below $72,000 on February 4, 2026, marking its lowest level since November 2024 and dragging the total cryptocurrency market value down to $2.54 trillion, a 3% decline in 24 hours. Ethereum and XRP also slumped sharply, with the Fear and Greed Index hitting extreme fear levels around 14. The crash coincided with a stock market selloff and geopolitical tensions.