The intense volatility in the cryptocurrency markets continues as bitcoin just shot up to $67,000 after plunging to $63,000 this morning.
The most likely reason for all the Saturday fluctuations is the quickly escalating situation in the Middle East, and the latest reports hinting at a regime change in Iran.
It all started this morning when Israel and the USA carried out several attacks against Iran. The Middle East country retaliated against several nations in the region, including the UAE, Bahrain, Qatar, and Saudi Arabia.
In the following hours, more reports began to unravel, and the latest big development on the matter indicated that Iran’s supreme leader had been killed. So far, though, the information is coming only from Israeli sources and there’s no official confirmation.
US President Donald Trump also addressed the situation recently, warning that he could end it all in a matter of days and warned of further military actions if Iran doesn’t scale back on its nuclear development.
BREAKING: President Trump is floating several “off ramps” for Iran just hours after the strikes launched by Israel and the US, per Axios.
Trump says:
1. He can end the situation in “two or three days”
2. This would involve threatening Iran with further military action if they… https://t.co/xQf5c7nmjb
— The Kobeissi Letter (@KobeissiLetter) February 28, 2026
Since the cryptocurrency market is the only financial industry operating during the weekend, it endured significant volatility as the events unfolded. After the initial strikes, bitcoin plunged from $66,000 to $63,000 within minutes, and the altcoins followed suit.
However, it rebounded in the following hours and even jumped to $67,000 minutes ago after the reports about Khamenei’s death.
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