Bitcoin’s price tumbled on Monday, falling to a two-week low of $67,371 as escalating tensions in the Middle East fueled risk aversion among investors, according to Gotrade News and confirmed by multiple sources.
The cryptocurrency weakened in early Asian trading, settling for much of the day near the $68,000 range. The decline places Bitcoin at its lowest level since March 9, a critical juncture for the asset’s technical outlook, analysts say.
The immediate catalyst for the downturn was a 48-hour ultimatum issued by U.S. President Donald Trump to Iran regarding the reopening of the Strait of Hormuz, a vital shipping lane for global energy supplies. Trump threatened military action targeting Iranian power plants should the Strait not be reopened, a statement reported by Blockonomi and echoed across financial news outlets.
“President Trump’s ultimatum is a major catalyst,” said Rachael Lucas, an analyst at BTC Markets. “It sparked global concerns, pushing up Brent prices and exacerbating market tensions.” Brent crude prices rose in response to the threat, adding further pressure on the market, according to reports.
Tehran responded with warnings of complete strait closure and retaliatory attacks on energy and water systems throughout Gulf states, as reported by Blockonomi, intensifying the geopolitical uncertainty.
The cryptocurrency market experienced a broader sell-off alongside Bitcoin. According to International Investment, altcoins also declined sharply, with Ether falling nearly 5%, and Solana, XRP, and Cardano also experiencing losses. This widespread decline suggests a flight to safer assets amid the heightened geopolitical risk.
The drop below the $69,000 level also comes after Bitcoin had previously traded above $120,000 in October 2025, representing a more than 20% decline by mid-March 2026, International Investment reported.
Market participants have been closely watching the situation, with some analysts identifying a critical support level at $67,250. A breach of this level could lead to further declines toward $65,000 or $63,500, according to Blockonomi. FXLeaders reported that Bitcoin has fallen below its 365-day moving average for the first time since March 2022, raising concerns about further declines.
Despite the recent volatility, U.S. Spot Bitcoin ETFs attracted $95.18 million in net capital between March 16–20, extending a four-week streak of positive inflows, according to Blockonomi. This suggests continued institutional interest in Bitcoin despite the short-term market pressures.
Nearly $335 million in total cryptocurrency liquidations were reported in the past 24 hours, with the majority being long positions, according to FXLeaders, indicating a violent deleveraging event in the market.
The situation remains fluid, with the outcome dependent on the response from Iran and the potential for further escalation. As of Monday, the U.S. Administration had not issued further statements beyond the initial ultimatum.
