Yeliz Akmaca 
The crypto market has accelerated its decline as tensions in the Middle East have increased. U.S. operations against Iran and signals of further attacks have seriously shaken investor confidence. Bitcoin, after a brief recovery, fell again below $67,000. Ethereum, Solana and XRP also recorded similar losses.
Developments late Saturday night took the wind out of the market’s sails. U.S. President Donald Trump announced that airstrikes would continue until the objectives are achieved. This statement created a sense of panic in the crypto market and triggered a renewed wave of selling.
Trump called on the Iranian Revolutionary Guard and police forces to lay down their weapons and receive full immunity. He said that otherwise they would face certain death. Shortly after, Israel also launched new airstrikes on Tehran and expanded its operations to include Iranian‑backed Hezbollah militants in Lebanon.
In an interview with the New York Times, President Trump said he expects Iran’s counterattacks to continue for the next four to five weeks. “These intolerable threats will not continue any longer,” he said, warning the Iranian military again.
Market analysts say that if the strikes continue, the collapse in the crypto market could deepen, reversing the brief weekend recovery. Trump also emphasized that this situation could be similar to what the United States did in Venezuela.
Support from the UK
As tensions increased, the UK government agreed to allow the U.S. to use British military bases for operations targeting missile sites in Iran. Prime Minister Keir Starmer said that Iran’s attacks, particularly on Bahrain and the UAE, had become reckless, and that this was the reason they made the decision.
Starmer said, “The U.S. requested permission to use British bases for this specific and limited defensive purpose. We decided to accept this request. Iran’s launch of missiles across the region threatens innocent civilians, puts British lives at risk and could strike countries that were not involved.”
This development increased pressure on the crypto market. Markets continue to experience volatility, driven directly by geopolitical risks.
Rising Tokens Despite Altcoin Declines
While Bitcoin and most altcoins were falling, some tokens attracted attention. Hyperliquid’s HYPE token gained approximately 5%, thanks to increased trading volume in oil futures.
The protocol generated more than $2.8 million in fees in the past 24 hours and over $13 million in the past week. This led to the burning of $9.22 million worth of HYPE tokens within seven days. Limited supply expectations are reducing the impact of the recently released $316 million worth of HYPE tokens.
Jupiter’s JUP token also saw support. It recorded a 13% increase over the past week and remained relatively stable over 24 hours. In a governance vote at the end of February, holders approved halting net new emissions for 2026 and suspending planned distributions.
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