Bitcoin dropped nearly $800 below $77,000 after reports of U.S. Navy strikes against targets in Iran, wiping out roughly $20 billion in market capitalization. The move followed a peak above $77,800 on May 25 and a rapid decline from about $77,250 around 8 p.m. EST to $76,451 by 11:30 p.m. A brief rebound toward $77,000 stalled, leaving bitcoin near $76,600 by 4 a.m. EST. Brent crude rose from about $96 to near $99 per barrel, while WTI jumped from around $90 to roughly $92.50. Maritime clashes around the Strait of Hormuz increased shipping risk and pressured both energy markets and expectations for diplomatic progress.
"Following reports of U.S. Navy strikes against targets in Iran, bitcoin dropped nearly $800 in over three hours on Monday night, slipping below $77,000 and wiping out roughly $20 billion in market capitalization. Late on Monday, bitcoin fell nearly $800 below $77,000 following reports of U.S. Navy military strikes in Iran. Brent crude spiked near $99 as maritime clashes disrupted energy markets and dented crypto capitalization."
"Bitcoin slipped back below $77,000 late Monday after reports that the U.S. Navy had struck targets in Iran sparked fears of a derailment of ongoing negotiations to formally end the war in the Middle East. Market data showed bitcoin, which peaked above $77,800 just before midday on May 25, tumbled from over $77,250 around 8 p.m. EST to $76,451 by 11:30 p.m., a decline of nearly $800 in a little over three hours. A brief recovery toward the $77,000 threshold quickly stalled, leaving bitcoin hovering just above $76,600 by 4 a.m. EST."
"This marginal decline pulled the cryptocurrency's market capitalization down to $1.53 trillion, compared to approximately $1.55 trillion on Monday afternoon. The cryptocurrency's sudden retreat exposed its fragile sensitivity to global conflict, drawing a sharp contrast with a fiery rally in the energy sector. As the skirmishes between the U.S. Navy and Iranian forces sent shockwaves through global markets, crude oil prices surged."
"The global benchmark spiked from $96 to $99 per barrel, while WTI experienced a parallel breakout, leaping from a Monday low of nearly $90 to hover around $92.50. Beyond driving the immediate risk premium in energy markets, the deadly maritime clashes slightly diminished hopes for a diplomatic breakthrough, un"
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