Bitcoin rebounded on Monday, recovering from losses triggered by U.S. strikes on Iran over the weekend. The cryptocurrency’s advance mirrored a broader recovery in equity markets.
The world’s largest digital asset was up 5.7% at $69,428.4 as of 16:40 ET (21:40 GMT).
Bitcoin rebounds after weekend selloff
Bitcoin had dropped sharply after coordinated U.S. and Israeli military operations in Iran reportedly resulted in the death of Supreme Leader Ayatollah Ali Khamenei, marking one of the most severe regional escalations in recent years.
Iran responded with several waves of missile attacks targeting Israeli and U.S. military facilities.
Following the initial strikes, Bitcoin tumbled to around $63,000 before stabilizing and beginning to recover.
According to Dessislava Ianeva, analyst at Nexo Dispatch, Bitcoin held relatively steady as markets evaluated the evolving U.S.–Iran situation. While prediction markets remain split on the likelihood of further escalation, the limited price reaction indicates investors currently see the conflict as a contained, short-term risk rather than the beginning of a sustained downturn.
President Donald Trump stated Monday that the military operation had four key goals: dismantling Iran’s missile capabilities, destroying its navy, preventing the country from acquiring nuclear weapons, and stopping Tehran from supporting and directing terrorist activities.
“We’re already well ahead of schedule, but whatever time is required, that’s fine. We’ll do whatever it takes,” Trump said, adding that although initial projections suggested four to five weeks, the U.S. has the capacity to extend operations significantly if necessary.
Strategy adds $204 million in Bitcoin
Michael Saylor’s company Strategy expanded its Bitcoin holdings last week, purchasing 3,015 BTC valued at approximately $204.1 million, at an average price of about $67,700 per coin.
Following the acquisition, Strategy’s total Bitcoin holdings increased to 720,737 BTC, accumulated at a total cost of roughly $54.77 billion — averaging about $75,985 per Bitcoin.
Strategy remains the largest publicly traded corporate holder of Bitcoin, having steadily built one of the most substantial corporate crypto treasuries.
Altcoins track Bitcoin higher
Most major altcoins also moved higher alongside Bitcoin.
Ethereum, the second-largest cryptocurrency, climbed 6% to $2,045.01. XRP gained 2.9% to $1.3936, while Solana and Cardano rose 5.7% and 2.2%, respectively.
Among meme coins, Dogecoin advanced 2.5%.
Sources: Anuron Mitra
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