I just saw that Bitcoin crashed below $66,000 in the first hours, and honestly, the geopolitical context is what’s driving all of this. It’s not just cryptocurrencies—look at what happened with S&P 500 futures, falling nearly 1.4% after hitting initial highs of 6,857.

What’s happening in the Middle East is serious. Iran intensified attacks on U.S. assets in the region, and, according to OSINT sources on social media, they hit the Ras Tanura refinery of Saudi Aramco. Oil prices rose by more than 7% on both sides of the Atlántico, which is an indicator that markets are nervous.

What’s interesting here is that Bitcoin reached initial highs near 67,000 during the Asian session, but didn’t hold. It’s down to 71.47K in current quotes. Typical of times when there’s geopolitical uncertainty: initial moves are reactive, but then the market asks whether this is truly a safe haven or just temporary volatility.

Stephen Coltman of 21Shares explained it well: Iran is trying to raise the cost of the conflict for Estados Unidos. Wars are usually inflationary, drive up prices of raw materials, and expand fiscal deficits. Theoretically, that should benefit assets like Bitcoin, which are perceived as a store of value, but for now, we’re not seeing that safe-haven demand.

Meanwhile, Israel continued airstrikes in Lebanon against Hezbollah. The conflict escalated after the United States and Israel attacked what they described as a preventive measure.

What has me paying attention is whether this becomes a stronger catalyst for Bitcoin or if it’s just short-term noise. The initial market dynamics suggest panic, but things can change quickly. Some say Justin Sun distanced himself from World Liberty Financial, accusing them of charging questionable fees, so there’s also drama in the ecosystem that’s adding pressure.

This is the kind of moment where you need to monitor Gate to see how volumes behave and whether there’s accumulation at these lower levels. It could be an opportunity, or it could get worse if tensions escalate further.