Bitcoin price rebounds after $65K low as Mideast war widens

Bitcoin dropped to $65,112 early Monday before recovering, as the conflict in the Middle East entered its fifth week with Houthi forces opening a new front and U.S. ground troops arriving. Brent crude traded near $115 a barrel, aluminum jumped as much as 6%, and major Asian stock indexes fell.

The decline took Bitcoin to its lowest level since Feb. 28. It later rebounded to about $67,402 in Asian trading. Over the past 24 hours, prices ranged between $65,112 and $67,389. The $65,000 area had not been tested since the conflict’s opening weekend five weeks ago. Even so, JPMorgan said Bitcoin has held up better than gold and silver during the Iran war period, drawing net inflows while precious-metals ETFs saw outflows.

Iran-backed Houthi forces entered the fighting, broadening the conflict. Additional U.S. troops arrived in the region. Iran struck two aluminum production sites, lifting prices up to 6% intraday. President Donald Trump is weighing a military operation to remove enriched uranium from Iran; no decision has been announced.

Oil advanced about 2.5% to roughly $115 a barrel and is about 90% higher year to date. In equities, South Korea’s benchmark fell 3.2% on technology weakness, and Japan’s Nikkei lost 3.4%. U.S. stock futures steadied near flat after earlier declines.

Crypto performance over longer periods was mixed. Despite gains in the past 24 hours, Bitcoin is down about 1% for the week. Ethereum rose 2% on the day to $2,044, Solana added 0.9% to $83.48, and XRP gained 1.4% to $1.35. For the week, ETH is lower by about 0.9%, XRP by 1.9%, and SOL by 3.7%. Tron outperformed, up 2.6% on the day and 4.6% for the week.

Monday’s low sits near the $64,000 intraday trough from Feb. 28. Over the past five weeks, Bitcoin has set higher lows near $66,000, $68,000, $69,400 and $70,596. The dip below $66,000 on March 30 marked the first lower low in that span.

Bitcoin had traded in a narrow range around $70,000 since mid-February with limited volatility through much of March. The latest drop briefly broke that range before buyers returned near $65,000 during Asian hours.