According to reports, cryptocurrency outflows in Iran has risen by 700% from the country’s largest exchange, Nobitex. The platform saw nearly $3 million in outflows after the US-Israel’s assassination of Ayatollah Khamenei. According to Elliptic, Nobitex users moved nearly $7.2 billion worth of crypto assets last year.
Will The Cryptocurrency Market Recover After the US/Israel-Iran Conflict?
The cryptocurrency market was in dire straits even before tensions in the Middle-East. Nonetheless, the market saw a dip when the conflict took off. Bitcoin (BTC) fell to the $63,000 mark on Feb. 28, 2026, but has since recovered the $68,000 mark. According to CoinGecko’s Bitcoin data, BTC has rallied 2% in the last 24 hours and 7.1% in the last week. However, the original cryptocurrency is still down by 0.5% in the 14-day charts and 13.7% over the previous month.
While increased geopolitical tensions put substantial pressure on the market, Bitcoin (BTC) seems to have some support at the $62,000-$63,000 price range. The recent dip was the third time the original cryptocurrency fell to the $63,000 price level over the last few weeks. It could mean that the $62,000-$63,000 is the bottom for Bitcoin (BTC) this cycle.
The cryptocurrency market may see some stability if things return to normal over the next few days. However, there is a chance that the new Iranian leadership will seek revenge and launch an assault on US bases and Israel. Such a move could lead to another market dip.
Also Read: BTC Q1 Forecast: Will Iran-US Conflict Push Bitcoin Higher?
The increased geopolitical tensions, amid times of a liquidity crunch and macroeconomic uncertainties have put substantial sell pressure on cryptocurrency investors. Risky assets have become unattractive and market participants have begun preferring safe havens such as gold and silver. We are in bear territory right now and it could take substantial amounts of time for the crypto market to rebound.