Bitcoin (BTC) prices surged to $68,200 early Sunday, recovering from a Saturday dip to $63,000 amid geopolitical tensions following US-Israeli air strikes in Iran. The cryptocurrency regained $5,000 within 24 hours after the announcement of the Iranian Supreme Leader's death, with current trading levels around $67,350, illustrating a return to Friday's figures.
Approximately 157,000 traders faced liquidation, resulting in $657 million in total liquidations, split between leveraged long and short positions, as per CoinGlass data. The death of Ayatollah Khamenei, reported by Iran’s Supreme National Security Council, coincided with these market movements, prompting comments from US President Donald Trump who labeled Khamenei as “one of the most evil people in history.”
Despite the recent uptick, February marked Bitcoin's third-worst performance historically, with a nearly 15% decline, and it is on track for its worst first quarter since 2018, having lost almost 23% year-to-date. Analyst Ash Crypto noted that if the conflict shows signs of resolution, Bitcoin may maintain its gains and potentially rise further.