Crypto prices slide as U.S.-Iran strikes enter tenth night

Bitcoin declined on Monday as the United States carried out a tenth consecutive night of military strikes against Iran, pushing oil prices higher and reinforcing a risk-off mood already deepened by a weeks-long selloff in technology stocks.

The largest cryptocurrency fell toward $60,300, extending losses that accelerated after U.S. Central Command completed its ninth consecutive evening of strikes on July 19. Ethereum, XRP, Dogecoin, and other major altcoins also dropped, with Dogecoin losing roughly 9.6% and XRP declining 7.8% over the period.centcom+1

Oil Surge Revives Inflation Fears

Brent crude futures traded above $90 per barrel on Monday, up sharply from levels near $83 just a week earlier when President Trump reimposed a naval blockade of all Iranian ports and threatened to strike power plants and bridges. The U.S. military has struck hundreds of Iranian targets since hostilities resumed in early July, including missile and drone sites, coastal defense systems, and maritime capabilities.centcom+3

A military adviser to Iran's supreme leader warned last week that Tehran is prepared to launch "full-scale offensive operations" if U.S. attacks continue, raising the prospect of further disruption to shipping through the Strait of Hormuz, through which roughly a fifth of the world's oil supply transits.aljazeera

Tech Selloff Compounds Pressure

The crypto market's weakness comes on top of a steep global selloff in semiconductor and AI-related stocks. Hedge funds dumped chip stocks for a fourth straight week through early July, and the selling intensified mid-month as investors lost confidence in the AI trade. That broader risk-off positioning has weighed on speculative assets including cryptocurrencies.fortune+1

Technical Levels in Focus

Bitcoin's 200-week moving average, sitting near $62,457 as of late June, remains a closely watched support level. A crypto news summary dated July 20 noted that Bitcoin closed below this indicator after whales had briefly driven prices above $62,000. Analysts have warned that a sustained break below this level could open a path toward $59,000 or lower.kucoin+1

Despite the daily decline, Bitcoin has recovered from its June lows near $58,000 and remains well above the deeper bear-case targets of $40,000 to $53,000 flagged by Galaxy Research and Citi.finbold+1