Bitcoin price today: recovers to $102k after Middle East war-driven decline

Investing.com-- Bitcoin rose on Monday, rebounding slightly after logging sharp weekend losses as U.S. strikes against Iran’s nuclear infrastructure ramped up concerns over a greater escalation in the Middle Eastern conflict. 

Bitcoin climbed 1.2% to $102,200 by 09:56 ET (13:56 GMT), having fallen as low as $99,000 on Sunday. Weekend losses saw the world’s biggest cryptocurrency break below a $103,000 to $108,000 trading range seen through most of June, although it managed to hold the $100,000 level. 

Broader crypto prices also rebounded, tracking Bitcoin’s gains. 

U.S. attacks Iran nuclear sites, Tehran’s response awaited 

The U.S. over the weekend attacked three key Iranian nuclear sites, with President Donald Trump claiming that the sites had been wiped out.

But Trump’s claims could not be immediately verified. The United Nations’ nuclear watchdog also said there was no immediate increase in radiation levels around the facilities. 

Still, Tehran decried the attacks, and warned of dire retaliation. Media reports said Iran could block the Strait of Hormuz, a key shipping channel for Asia and Europe, which could cause economic disruption in the regions.

The strait is especially used to ship oil, with crude prices rising sharply on Monday in response to the attack. Higher oil prices also pushed up concerns over energy-driven inflation, which could in turn keep global interest rates steady for longer. 

While crypto is not directly affected by economic ructions, it is vulnerable to shifts in sentiment due to its speculative nature. Hawkish comments from the Federal Reserve had also pressured crypto markets last week, as markets feared that U.S. interest rates will remain higher for longer. 

Strategy buys 245 more Bitcoin

Strategy (NASDAQ:MSTR), formerly MicroStrategy, has added another 245 Bitcoin to its portfolio in a $26 million purchase, further expanding its already massive crypto holdings.

With this latest acquisition, the company now holds a total of 592,345 BTC, valued at nearly $60 billion based on bitcoin’s current price of approximately $101,000. The average purchase price across its entire position is now $70,681 per bitcoin.

The new investment was funded through proceeds from its at-the-market equity offering tied to preferred stock classes STRK and STRF.

Crypto price today: altcoins track Bitcoin uptick, more Fed cues awaited

Broader crypto prices largely tracked Bitcoin’s gains, but risk appetite remains muted amid geopolitical tensions. Focus this week is also on more cues from the Fed, with Chair Jerome Powell set to testify before Congress starting from Tuesday.

World no.2 crypto Ether jumped 4% to $2,290.68, while XRP added 3% to $2.02

Cardano and Solana rose more than 3% and 5%, respectively. 

Among meme tokens, Dogecoin climbed around 4%, while $TRUMP added 2.7%. 

(Ambar Warrick contributed to this report.)