Breaking: Bitcoin Drops As US Launches Retaliatory Strikes Against Iran

10 Jun, 2026 Updated 10 Jun, 2026

News Writer & Journalist

Kritika boasts over 4 years of experience in the financial news sector. Currently working as a crypto journalist at Coingape, she has consistently shown a knack for blockchain technology and cryptocurrencies. Kritika combines insightful analysis with a deep understanding of market trends. With a keen interest in technical analysis, she brings a nuanced perspective to her reporting, exploring the intersection of finance, technology, and emerging trends in the crypto space.

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CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

Bitcoin Dips Amid US-Iran Conflict

The BTC price fell to $61,766.55 at press time on Tuesday, June 8, pushing intraday losses to 3.02%. Prior to the drop, Bitcoin was holding well above the $62,000 level. Earlier this week, Bitcoin had been hovering around the $60,000 mark owing to the Iran-Israel retaliatory strikes.

The market pressure grew following the U.S. Central Command’s announcement that the American air force had launched “self-defense” strikes against Iran at 5 p.m. ET on June 9.

The overall crypto market also turned bearish. Crypto long liquidations hit $1.39 million in the 1-hour timeframe, per CoinGlass data. Bitcoin accounted for most of these liquidations with over $136 million liquidated in the last 24 hours.

Why US Initiated Strikes Against Iran This Time?

A U.S. Army Apache helicopter had reportedly been shot down near the Strait of Hormuz, which prompted the military response.

US President Donald Trump, in a post on the Truth Social, addressed these concerns. He wrote, “I have just been informed by our Great Military that last night the Iranians shot down one of our highly sophisticated Apache Helicopters while patrolling over the Strait of Hormuz.”

Trump also said, “There were two pilots involved, both are safe and uninjured.” Moreover, he declared: “The United States must, of necessity, respond to this attack.”

However, Iran had claimed it was not deliberately targeting the plane. Deputy foreign minister Kazem Gharibabadi said Tehran had nothing to do with the deliberate crash of the helicopter. He said such incidents could be happen “intentionally” owing to increased tensions in the region.

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.

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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.