Bitcoin Drops Near $62,700 While Traditional Markets React to Iran Strikes

Bitcoin held close to $62,700 on Monday even as gold, oil, stocks and bonds moved sharply following a fourth round of U.S. strikes on Iran. While traditional markets swung hard, Bitcoin slipped just 0.3% over 24 hours and remained up 2% for the week.

Traditional Markets Feel the Impact

Gold dropped as much as 1.6% to near $4,050 an ounce, while Brent crude jumped 4% above $79 a barrel amid uncertainty over the Strait of Hormuz. Treasury yields rose across the board, with the two-year yield hitting its highest level since February 2025, and Asian equities fell 1.6%. The moves reflected growing concern that a wider conflict could keep oil prices elevated and push the Federal Reserve to hold interest rates higher for longer.

Crypto Markets Barely Move

Ether stayed near $1,800, up 2% for the week, while other major tokens showed little movement. Solana was the weakest performer, down 5% over seven days to $76, while XRP held around $1.09 and dogecoin stayed near $0.07.

Chip Stock Swings Add a Twist

One notable link to crypto came through Korean chip stocks. SK Hynix shares fell 12% in Seoul after a strong U.S. debut on Friday, a reversal that dragged the Kospi index down 7%. That same chip rally had helped lift Bitcoin on Friday, yet Monday’s pullback left crypto prices largely unaffected either way.

Bitcoin’s steady range through a weekend of strikes and a broad market selloff marks a shift from past patterns, when war-related headlines often triggered sharp crypto swings.