Bitcoin Falls Below $66k as Iran Strikes Saudi Oil Facility

Bitcoin slipped below $66,000 on Monday as geopolitical tensions intensified following reports that Iran targeted oil infrastructure in Saudi Arabia. The pullback erased earlier gains that had briefly pushed the cryptocurrency close to $67,000 during Asian trading hours.

At the same time, U.S. stock index futures turned sharply lower. S&P 500 e-mini futures declined around 1.4%, reversing earlier advances, while crude oil prices surged more than 7% amid fears of supply disruptions.

According to several open source intelligence (OSINT) sources on X;

Iran Attacks Raise Oil Supply Concerns

Open-source intelligence accounts reported missile strikes on U.S. assets in Bahrain, Kuwait and the United Arab Emirates. Additional reports indicated that Iran hit facilities linked to Saudi Aramco, including the Ras Tanura refinery, a critical export hub.

The escalation follows earlier military action involving Israel and Iran-backed groups in the region. Analysts note that while wars typically fuel demand for inflation hedges, Bitcoin has yet to show sustained safe-haven inflows despite rising commodity prices and mounting regional instability.

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