Israel defies Trump, strikes Iran; oil jumps near $100 and $BTC slips to $63,316

Israel carried out a series of airstrikes across central and western Iran over the weekend, ending a two-month truce and defying explicit diplomatic pressure from Washington, in a development that pushed global energy benchmarks higher and pulled $BTC back from a brief weekend rally. Data from CryptoSlate showed Bitcoin retreated to approximately $63,316 as of press time, after reaching an intra-day high of $64,128 during a weekend short squeeze. The reversal leaves $BTC defending a highly fragile $60,000 baseline amid institutional deleveraging, fatigue in the artificial intelligence trade and widening macro anxieties.

Israeli forces hit infrastructure including a petrochemical facility in Isfahan and locations in Tehran and Tabriz, according to reports. The strikes followed a barrage of roughly 10 Iranian ballistic missiles fired toward northern Israel on Sunday night, which the Israeli military reported were largely intercepted or landed in uninhabited areas. Tehran framed the missile launch as direct retaliation for a prior Israeli operation in southern Beirut that killed two people and injured 20 at a militant command center.

The renewed violence complicates ongoing diplomatic efforts led by US President Donald Trump, who had recently suggested a comprehensive peace agreement was nearing finalization. Trump publicly expressed frustration with the unfolding events, distancing his administration from the Israeli prime minister's tactical decisions and stating: "I call all the shots. He doesn't call the shots." In Tehran, Iranian Parliament Speaker Mohammad Bagher Ghalibaf dismissed the prospect of an immediate ceasefire, arguing that existing naval blockades and tacit US support for Israeli operations have effectively turned American assets in the region into legitimate military targets.

The immediate financial fallout was concentrated in energy markets, which erased a late-week selloff that had been predicated on hopes of regional de-escalation. According to oilprice.com, Brent crude futures spiked 4.47% to reach $97.15 a barrel, while U.S. West Texas Intermediate advanced 4.50% to $94.61. Although crude remains below the $120 peak recorded in March, prices have surged nearly 60% since the wider conflict began in late February, with traders pricing in the risk of disruptions in the Strait of Hormuz, a critical maritime chokepoint. The cross-asset move dragged equity markets lower and reinforced risk-off positioning in digital assets, leaving $BTC to trade in a tight range as traders weigh the renewed geopolitical shock against the broader macro backdrop.