Bitcoin Slips to $83,324 as Iran Tensions Threaten Its 42% Rally

TL;DR

• Bitcoin fell 1.3% to $83,324 at 03:30 UTC on Monday, while major altcoins also declined.

• Nasdaq futures slipped 0.7%, and oil futures rose as investors assessed the risk of renewed U.S. strikes on Iran.

• President Donald Trump said the conflict could end soon but did not rule out further military action.

• Bitcoin remains up 42% over the past three months despite its softer start to the week.

Bitcoin and Nasdaq futures opened the week lower as uncertainty over the conflict with Iran weighed on risk assets and supported oil prices.

At 03:30 UTC on Monday, Bitcoin was down 1.3% at $83,324. Ether, XRP and Solana posted similar losses, while futures tied to the Nasdaq fell 0.7%. West Texas Intermediate crude futures rose nearly 1% to $93.28, with Brent also gaining.

Iran Uncertainty Puts Oil and Inflation in Focus

President Donald Trump said Sunday that he expected the war with Iran to end “very soon,” but declined to rule out further U.S. military strikes before November’s midterm elections. Iran’s foreign minister, Abbas Araghchi, said the country was prepared for a renewed conflict.

The Strait of Hormuz remains central to the dispute. Iran has proposed reopening the oil shipping route as part of an effort to pause hostilities and resume negotiations, while Trump has maintained pressure on Tehran.

Disruption to oil supplies has kept inflation concerns in view. The supplied market report put the U.S. 10-year Treasury yield at 5.20%, up 127 basis points since the war began in early March, amid inflation worries, expectations of Federal Reserve rate hikes and concerns about government debt.

Bitcoin’s Three-Month Rally Faces a Near-Term Test

Despite Monday’s decline, Bitcoin has rebounded sharply in the third quarter. The supplied report put its gain over the past three months at 42%.

Bitcoin was already below the lower edge of that cited support range at the report’s 03:30 UTC snapshot, making its next move around the zone a focus for traders.

U.S. personal consumption expenditures inflation data, the ISM manufacturing survey and nonfarm payrolls are due this week. Those releases could affect expectations for Federal Reserve policy and add to volatility across crypto and other markets.