LONDON, Feb 28, 2026, 10:59 GMT — Market has closed.
- Bitcoin slid roughly 4%, dipping to just above $64,000 after U.S.-Israeli strikes on Iran shook up risk appetite during weekend trading.
- Focus is sharpening on the low-$60,000s, with traders eyeing a potential $60,000 level test before stocks and bonds reopen Monday.
- Markets are watching for fresh signals as oil supply concerns build, with the OPEC+ output meeting set for Sunday.
Bitcoin slid roughly 4% to $63,956 on Saturday, with traders shying away from risk after U.S. and Israeli strikes on Iran. The cryptocurrency’s session ranged from $63,177 up to $66,751.
This shift stands out with most big markets closed for the weekend, leaving crypto trading on its own. Bitcoin’s outlook for the coming week now hangs on whether the “risk-off” sentiment—traders’ code for a pivot toward safety—sticks around once markets kick back into action Monday.
Oil remains front and center. Barclays flagged a potential jump in Brent to roughly $80 a barrel if the crisis actually disrupts supply. The bank also noted any $3-$5 per barrel risk premium might unwind quickly if shipments aren’t interrupted. On Friday, Brent finished at $72.48 after a 2% climb.
Reuters reported that the United States and Israel carried out joint strikes against Iran on Saturday, prompting Iran to respond with missiles and drones. Bahrain confirmed a missile hit at a U.S. Fifth Fleet service centre, and Qatar intercepted incoming missiles. Near Kharg Island — a critical hub for Iranian oil exports — explosions were reported, according to the same report.
The crypto market took a hit in minutes. Around $128 billion was wiped from digital-asset values during the initial selloff after the headlines broke, according to CoinGecko figures reported by Bloomberg.
Ether slipped almost 6% to $1,864, deepening the risk-off mood.
Traders looking for the next move are eyeing $60,000—a straightforward round number. If bitcoin slips below the low-$60,000s, Investing.com points to $60,000 as the key support level to watch.
Some analysts argue that steadier institutional flows are helping to provide a buffer. “Price is compressing within a liquidity-constrained environment,” said Iliya Kalchev, analyst at Nexo Dispatch. He pointed to $254 million in net inflows for U.S. spot bitcoin ETFs on Thursday. The report noted bitcoin has dropped almost 17% in February and is on track for a fifth monthly decline in a row. Miner MARA Holdings climbed nearly 6% on Friday after it unveiled a deal with Starwood Capital to convert certain mining sites into AI-focused data centres. Investing.com
Bitcoin lost ground ahead of the weekend, dropping 3.08% to $65,399 on Friday, according to a Reuters market report. “The dollar has been trading in a little bit of a holding pattern,” noted City Index market strategist Fiona Cincotta, with markets on pause for the next move. Reuters
Weekend trading often muddles the picture. If tensions cool quickly, that could trigger a sharp rebound. On the flip side, any disruption to energy flows risks heavier selling in risk assets and could squeeze leveraged crypto traders even harder.
Pepperstone’s Michael Brown told MarketWatch he sees a chance for volatility to jump in the near term. Still, he pointed out that, historically, geopolitical events tend to leave only a “limited long-term market impact.” MarketWatch
Sunday brings the oil market’s first official marker. OPEC+ is set to meet at 1100 GMT, with two sources familiar with the discussions telling Reuters the group could weigh a larger output hike than initially planned in the wake of the Iran strike.
Bitcoin’s next hurdle lands as Asia opens, then Wall Street, on Monday, March 2. Traders are eyeing crude prices, the dollar, and ETF flows for signals—while keeping just as sharp a focus on headlines from both Tehran and Washington.
