Bitcoin dropped below the $100,000 mark during U.S. midday trading on Monday, reversing gains after news emerged that Iran may be planning attacks on U.S. military bases in the Middle East.
Other major cryptocurrencies also declined, with Ethereum’s ether falling below $2,200 and XRP slipping under $2. Bitcoin briefly dipped to around $98,500 on Sunday before returning slightly above $100,000 at press time.
According to Axios, the Trump administration is preparing for potential Iranian retaliation following recent U.S. airstrikes on three Iranian nuclear sites. The president was reportedly set to meet with his national security team to address the escalating threat.