Bitcoin (BTC to PKR) plunged toward $63,000 on Saturday after the United States and Israel confirmed military strikes inside Iran, escalating geopolitical tensions in the Middle East. With traditional financial markets closed for the weekend, crypto markets reacted alone, triggering over $250 million in liquidations within hours.
According to market data, Bitcoin (BTC) dropped nearly 4% intraday, testing the critical $63,000 support zone.
In a televised address, Donald Trump confirmed a joint military operation with Israel targeting Iran’s nuclear infrastructure. He concluded the speech by urging Iranian citizens to “take over your government.”
With US stock futures closed, crypto traders were left to price in the geopolitical risk independently.
Data from market analytics platforms showed more than $250 million in crypto liquidations within four hours of the announcement.
Trading resource The Kobeissi Letter noted this marks the second major Iran-related escalation within eight months, recalling a similar 2025 incident that caused sharp volatility across risk assets.
Because traditional markets were closed, Bitcoin acted as a real-time geopolitical risk barometer, absorbing immediate uncertainty.
Despite the sharp drop, Bitcoin has not yet broken major structural support.
Important observations:
If $63,000 fails to hold, analysts suggest a move toward $60,000–$58,000 could follow quickly. However, if tensions ease, a relief bounce toward $67,000–$69,000 remains possible.
At $63,000–$64,000 range, Bitcoin is trading near:
For Pakistani investors, geopolitical instability combined with USD strength may continue driving volatility in BTC to PKR rates.
This weekend’s drop reinforces several broader themes:
Bitcoin is currently balancing between macro uncertainty and long-term cycle expectations, with many analysts still forecasting broader bear-market weakness into late 2026.