BREAKING – Bitcoin Drops As Trump Orders Retaliatory Strikes On Iran

Crypto Insight Summary: inist.com/wp-content/uploads/2025/02/safe.png) Trusted Editorial content, reviewed by leading industry experts and seasoned editors. That denial, however, did not stop US President Donald Trump from ordering a military response — and crypto markets felt it almost immediately. Related Reading: [Sam Bankman-Fried’s Cellmate Says He Never Owned Up — And That’s Why A Pardon Won’t Come](https://bitcoinist.com/why-sam-bankman-frieds-pardon-bid-could-be-dead-on-arrival-according-to-his-cellmate/) ## Bitcoin Slides Below $62,000 Bitcoin was trading at $61,780 on Tuesday, June 8, down 3% on the day. The price had been holding above the $62,000 level before the US military action was announced. At the time of writing, [Bitcoin](https://www.coingecko.com/en/coins/bitcoin) was down 2.5%, and trading at $61,400, data from Coingecko shows. The top crypto lost 7.6% of its value in the last seven days amid instability in the Middle East, and as the US and Iran grapple for a ceasefire deal. US Central Command confirmed that American forces carried out what it described as “self-defense” strikes against Iran at 5 p.m.  The broader crypto market turned bearish in the wake of the announcement. Crypto Insight Analysis: Direction: Bearish BTC / Bearish ETH / Bearish Market Impact: Minor Impact Horizon: Short-term (1-3 days) Reasoning: Geopolitical tensions cause short-term volatility, but crypto markets typically recover quickly unless escalation occurs.