Bitcoin is stuck in a holding pattern, oscillating between $76,200 and $77,245 as traders try to make sense of a geopolitical situation that keeps shifting by the hour. The culprit: renewed military tensions between the US and Iran, which have turned every presidential statement into a potential price catalyst.
On May 18, President Trump announced the postponement of planned military strikes against Iran, reportedly at the request of Gulf state leaders. BTC responded almost immediately, rebounding toward $77,000 after dipping below $76,000 during the peak of the escalation scare.
A three-month cycle of fear and relief
The US-Iran conflict didn’t start this week. Airstrikes involving the US and Israel have been hitting Iranian targets since February 2026, creating a recurring loop of military action, diplomatic posturing, and market whiplash. Earlier in 2026, BTC saw lows between $67,000 and $74,000 before clawing its way back to its current range.
One particularly brutal escalation scare wiped out $580 million in long liquidations within hours.
