Bitcoin Holds ₱3,860,785 ($66,000) as US-Iran Strikes Hit 2,000+ Targets
Bitcoin remained stable near ₱3,860,785 ($66,000) on Feb. 28 despite headlines about Iranian missiles hitting US bases and the IRGC closing the Strait of Hormuz. Short-term holder exchange inflows stayed unusually quiet, contrasting sharply with panic-selling patterns seen in earlier geopolitical shocks.
Key Takeaway
Low exchange inflows during the Iran strike suggest seller exhaustion—past conflicts led to 25-40% rallies.
Bitcoin held near ₱3,860,785 ($66,000) on Feb. 28 as US-Israeli forces struck more than 2,000 targets across 131 Iranian cities and provinces, killing Supreme Leader Ayatollah Ali Khamenei.
The price briefly touched ₱3,687,050 ($63,030) during the conflict before climbing back above ₱3,802,288 ($65,000). That stability came after a 3.5% decline since Feb. 26, but the dip didn't trigger the panic selling that marked earlier geopolitical shocks.
CryptoQuant analyst Moreno tracked a sharp contrast in investor behavior. During the Feb. 5-6 panic event, short-term holders sent 89,000 BTC to exchanges at a loss. On Feb. 28, exchange inflows from that same group stayed unusually quiet despite headlines about Iranian missiles hitting US bases and the IRGC closing the Strait of Hormuz.
Market analyst Ted Pillows identified a pattern across three conflicts. Russia's Ukraine invasion in February 2022 saw Bitcoin drop then surge 40%. Israel's June 2025 strike on Iran caused a dip followed by a 25% gain. Pillows asked if a similar pattern would follow the February 2026 US-Iran strike.
Moreno said markets tend to find their footing once the most nervous sellers have already exited. If exchange inflows from short-term holders remain low, it could point to seller exhaustion and set the stage for a price recovery, with Bitcoin trading in the $63,000 to $64,000 range on Feb. 28.
This article was written based on reporting from NewsBTC.
