Bitcoin rebounded noticeably amid the latest geopolitical developments. On Sunday morning, the leading cryptocurrency climbed to 68,200 dollars, after previously falling to around 63,000 dollars following U.S. and Israeli strikes on targets in Iran.
In less than 24 hours, Bitcoin gained roughly 5,000 dollars. At the time of writing, however, the price has pulled back slightly and is trading near 66,500 dollars.
Altcoins also turned higher: Ethereum and other major assets are posting positive daily performance. Among the top 10, Solana led the gains, rising by nearly 10%. The biggest winner was LayerZero (ZRO), which surged by around 22%, supported by a sharp 65% increase in trading volume.
According to CoinGlass data, approximately 100,000 traders were liquidated over the past 24 hours, with total liquidations reaching 450 million dollars. Long and short positions were affected in roughly equal measure.
The catalyst for the market move was reports of the death of Iran’s Supreme Leader Ayatollah Ali Khamenei. According to Reuters, Iran’s Supreme National Security Council stated that Khamenei was killed in his office on Saturday.
U.S. President Donald Trump described Khamenei on his Truth Social platform as “one of the most evil figures in history,” adding that his death represented an act of justice not only for the Iranian people, but also for Americans and others affected worldwide.
Market observers note that investors may be interpreting these developments as a potential signal of de-escalation in the conflict between the United States and Iran.
“If there are signs of a resolution before stock markets open on Monday, Bitcoin could hold its gains and continue moving higher,” wrote crypto analyst Ash Crypto on X.
“However, if the airstrikes continue, the market will remain extremely volatile,” he added.
