Bitcoin Drops 4% to Below $104,000 Amid Israeli Action in Iran

Bitcoin's price has fallen by 4%, trading below $104,000, as reports emerge of Israeli military action in Tehran. According to Axios, Israeli forces conducted an operation within Iranian airspace, with Al-Jazeera later confirming explosions heard in the capital. This development comes amidst heightened tensions in the region, with the International Atomic Energy Agency reporting that Iran has not complied with restrictions on enriched uranium for the first time in two decades.

President Donald Trump has expressed a preference for a diplomatic solution with Iran, cautioning that an attack could escalate into a significant conflict. The likelihood of Israeli action against Iran by July is under 30 cents, according to Polymarket bettors. However, Israel's government has not officially confirmed the attack. The situation remains fluid, with potential implications for both regional stability and global markets.

This geopolitical uncertainty has had an immediate impact on Bitcoin's price, which has dropped by 4% and is now trading under $104,000. The cryptocurrency market is known for its sensitivity to global events, and the potential for further escalation in the Middle East could continue to influence Bitcoin's value. Investors are advised to monitor the situation closely, as developments in the region could lead to increased volatility in the coming days.