Bitcoin price rose more than 3% to break to $103k on Monday.
Gains came despite Iran’s missile attacks on US bases in the Middle East.
BTC also seemed to rally amid reports that US President Donald Trump seeks no further military action in Iran
Bitcoin (BTC) has soared to $103,000 as of writing on Monday, June 23, 2025, defying expectations amid escalating tensions in the Middle East.
The cryptocurrency’s sharp rally comes despite Iran’s recent retaliatory attacks on US military bases.
It includes a ballistic missile strike on the Al Udeid air base in Qatar.
Reports indicate that US President Donald Trump has signaled a reluctance to pursue further military action against Iran, a stance that appears to have bolstered investor confidence in Bitcoin as a safe-haven asset.
However, this optimism is tempered by Qatar’s announcement of airspace closures, which resulted in a lot of airlines cancelling flights, and Qatar’s statement that it reserves the right to respond directly, adding volatility to the market.
Bitcoin price gains amid geopolitical news, touches $103,000
Bitcoin’s price surged by over 3% within a few minutes as the market reacted to news that air defenses in Qatar had foiled an Iranian attack on the US air base at Al Udeid.
While investors adjusted to the development, buying pressure catapulted Bitcoin price from an initial dip to under $100k, with the benchmark digital asset hitting intraday highs above $103k.
The gains saw BTC solidify its bounce after falling to lows of $98,290 over the weekend amid US attacks on Iran’s nuclear sites.
Market sentiment is currently neutral after Iran attacked US bases in Qatar: pic.twitter.com/Z0pckcgmQG
— unusual_whales (@unusual_whales) June 23, 2025
Cryptocurrencies and stocks jumped as reports suggested Iran had warned Qatari authorities of the retaliatory attacks, with the US also aware of the strikes targeting the air base in Qatar in advance.
Similar warnings also hit US bases in Iraq, Kuwait, the UAE, and Bahrain. These countries closed their airspaces.
What next for BTC amid Middle East conflict?
While the cryptocurrency market remains sensitive to geopolitical instability and may dump amid escalating tensions, Bitcoin could climb towards $104k or higher. If not, support may be around $100k and $98k.
Notably, the future trajectory of Bitcoin price and top altcoins remains uncertain, given Iran says it’s ready to increase the attacks. Qatar has also said it reserves the right to retaliate. Also key are reports that Trump isn’t looking to attack Iran.
However, Trump’s comments could be similar to what he said earlier this week, where he indicated a potential two-week deliberation period before deciding on military action against Iran. Yet, the US launched a surprise attack on Iran’s nuclear sites.
