US Attacks Iran, Bitcoin Drops to $98,000: What Happens Next?

Bitcoin fell to $98,300 on Sunday (June 22) – its lowest level since early May – as markets reacted to Donald Trump’s attack on three facilities in Iran , escalating US-Iran-Israel tensions.

Tehran has threatened to consider all options in response, while Trump has warned of military action if retaliated. With Wall Street closed for the weekend, Bitcoin has become an early indicator of how stocks will react when they reopen.

Analysts once believed that ETF inflows would help Bitcoin stay above $100,000, but the current geopolitical situation could test that hypothesis and disrupt the bull market.

During this correction, Bitcoin fell less than altcoins: BTC fell 4.5% , ETH fell 12% , Solana fell 13% in the past 7 days.

Tokyo markets were already anticipating the trend on Wall Street as the Nikkei index fell 1% .

What does the bombing mean for the market?
Some in the MAGA movement do not support Trump attacking Iran, questioning whether this is a “one-and-done” military action.

Oil prices have risen sharply , putting inflationary pressure on the Fed and possibly delaying a rate cut .

Investors tend to pull out of risky assets and seek safe havens like the US dollar — which is detrimental to Bitcoin .

While history shows the S&P 500 typically declines after Middle East conflicts and then recovers within two months , the current environment with an unpredictable president like Trump makes the outlook more uncertain.