Bitcoin Drops to $65K as Geopolitical Tensions Weigh on Markets

Bitcoin News

Bitcoin fell to $65,000 on Saturday before

near $66,500 to $67,000. The cryptocurrency remains below last week's levels of around $71,000 and is down roughly 47% from its all-time high of $126,080 set in October 2025.

Ongoing geopolitical tensions in the Middle East are driving the retreat, with active conflict and stalled peace talks keeping oil and energy prices elevated. "What we saw this week was a classic risk-off unwind," said Rachael Lucas, crypto analyst at BTC Markets. "Bitcoin touched $72K mid-week on hopes of a diplomatic breakthrough, then gave it all back as those hopes faded and oil supply concerns resurfaced."

Lucas said the situation surrounding the Strait of Hormuz is amplifying inflation fears, which reduces the likelihood of Federal Reserve interest rate cuts and puts downward pressure on crypto prices. Strikes on neighboring states in the region have kept the conflict from de-escalating, while diplomatic talks remain at a standstill.

Jeff Mei, COO at BTSE, said elevated oil and gas prices will continue to drag on economic growth. "We believe that

prices have more room to fall, with Bitcoin potentially falling to the $60K support level," Mei said.