Bitcoin dips below $77,000 amid U.S. strikes on Iranian targets

Bitcoin slipped below the $77,000 mark, trading around $76,762 after fresh U.S. strikes on Iranian targets lifted oil prices and sparked broad sell‑offs in crypto and equity markets.

Market reaction

The drop erased the short‑term support around $78,000 that Bitcoin had briefly held. Within one hour, leveraged long positions across the crypto market were liquidated for roughly $115 million, according to CoinGlass data. Ethereum also fell, slipping below $2,400.

Geopolitical trigger

U.S. Central Command reported that American forces struck Islamic Revolutionary Guard Corps sites in Iran at 12 p.m. ET, responding to alleged attacks on commercial vessels in the Strait of Hormuz. The operation targeted radar and military installations near Qeshm Island, Bandar Abbas, and other coastal locations.

Oil price impact

Brent crude settled 4.6% higher at $94.65 per barrel, while U.S. West Texas Intermediate rose 5.2% to $90.22. Higher energy prices add inflationary pressure and can influence Federal Reserve policy, which in turn affects risk assets such as Bitcoin.

Broader market context

U.S. equities fell, and Treasury yields rose as investors priced in the impact of higher oil prices. The S&P 500 slipped to its lowest level since early August. Bitcoin’s intraday low near $76,483 placed the $76,500 area as the next immediate test for sellers.

Outlook

For Bitcoin to recover, it would need to retake the $77,000 level and then the $78,000‑$79,000 support zone. Continued geopolitical tension around the Strait of Hormuz and further oil price spikes could keep downward pressure on the cryptocurrency.