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Bitcoin weathers warfare 🪖
As tensions between Israel and Iran erupt, Bitcoin is holding up relatively well—though few prediction market users expected the strike.
Andrew Hayward
June 13, 2025
📝 What you need to know
Bitcoin plunged late Thursday as Israel launched a military operation against Iran, with the price of the top cryptocurrency tumbling to nearly $103,000 as altcoins took even harder hits. (Gold, meanwhile, surged to a two-month high.)
As of this writing, Bitcoin has ticked back above $105,000, holding relatively steady even as Iran began its own assault on Tel Aviv on Friday (U.S. time). Even with $1.2 billion worth of liquidations across the crypto market during the past day, analysis shows that Bitcoin’s dip was relatively contained, with no clear signs of market panic.
Interestingly, while prediction markets have been a growing source of influence since President Trump’s election win was telegraphed in advance last fall, Polymarket traders missed the mark on Israel’s attack on Iran. Users pegged the chances of an attack by Friday at less than 20%—right up until it happened.
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