Bitcoin Slides to $77,614 as US and Israel Weigh New Strikes on Iran

Bitcoin dropped below $78,000, reaching a session low of $77,614 before recovering and consolidating around $78,000. The move erased monthly gains and reduced market capitalization to about $1.56 trillion, down more than $40 billion from roughly $1.6 trillion. The decline followed intensifying rumors of potential U.S. and Israeli military strikes against Iran. The crash wiped out $666 million in long positions and left bitcoin down 3.2% over 24 hours. The selloff continued a downward trend after bitcoin traded near $82,000 on May 14. Investors monitored preparations for a conflict that could last weeks, with U.S. plans described as high-precision airstrikes and specialized ground operations targeting nuclear material at Isfahan.

"It also dragged down its market capitalization to $1.56 trillion, a drop of more than $40 billion from the $1.6 trillion mark recorded Thursday. According to a New York Times report, any escalation in hostilities would likely trigger a two-pronged U.S. military strategy: intensified, high-precision airstrikes targeting Iranian command-and-control infrastructure, alongside highly specialized ground operations designed to neutralize and retrieve enriched nuclear material secured deep within the subterranean facilities at Isfahan."

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