Bitcoin News Today: Bitcoin Retreats to Below $79,000 After Iran Missile Report Sparks Flash Selloff; US Denies Ship Was Hit

Key TakeawaysBitcoin hit an intraday high of $80,594 -- its highest since January 31 -- before dropping to $78,760 after Iran's Fars news agency claimed two missiles struck a US patrol boat near Jask IslandThe US denied any of its ships were hit; oil and equity futures pared sharp initial moves on the denial but Bitcoin held its decline as traders priced in ceasefire fragility$301 million in short positions were liquidated as Bitcoin broke above $80,000 earlier in the sessionBrent crude spiked more than 5% to above $113 per barrel before partially reversing on the US denialTrump announced "Project Freedom" on Truth Social -- a military escort operation through the Strait of Hormuz using guided-missile destroyers, aircraft, and drones -- to which Iran responded by announcing it had "redefined its control zone" extending claimed maritime borders to FujairahEther, Solana, XRP, BNB, and Dogecoin all pulled back from intraday highs but remained positive or only slightly lower on the dayBitcoin's first sustained push above $80,000 since January lasted hours before an unverified Iranian missile report triggered a sharp reversal, sending the asset from a $80,594 high to $79,074 in late Asian trading Monday as geopolitical risk re-entered the tape at the worst possible technical moment.The session had begun with significant momentum. Bitcoin broke above $80,000 for the first time since January 31, climbing from $78,415 at 1:25 AM UTC to a $80,594 intraday high by 4:20 AM UTC -- a move that triggered $301 million in short liquidations as bearish positions clustered above the psychological level were forcibly covered. The MSCI AC Asia Index hit a new all-time high of 245.2, breaking its pre-war record from February 22, and broader crypto markets were participating in the risk-on move with Ether up nearly 4%, BNB up 3.3%, and Dogecoin leading altcoin gains.The Missile Report and the DenialThe reversal came without warning. Iran's state-affiliated Fars news agency claimed that two missiles had struck a US patrol boat near Jask Island after the vessel allegedly ignored Iranian warnings to leave its territorial waters. Brent crude spiked more than 5% to trade above $113 per barrel within minutes of the report. Bitcoin dropped nearly $1,500 from its intraday high as traders immediately priced in the possibility of a ceasefire collapse and full-scale military escalation.The US denied the report shortly after, stating no American ship had been struck. Oil and equity futures pared their sharp initial moves on the denial, with Brent retreating from the $113 spike. Bitcoin, however, held its decline -- a sign that traders are pricing in the fragility of the ceasefire that has held since early April rather than treating the US denial as a full all-clear. The asymmetry between the speed of the selloff and the partial nature of the recovery reflects the market's heightened sensitivity to any Iran-related headline at this juncture.Project Freedom Escalates the Hormuz StandoffThe missile report arrived hours after President Trump announced "Project Freedom" on Truth Social -- a US military operation to begin escorting ships stranded in the Persian Gulf through the Strait of Hormuz starting Monday. The operation involves guided-missile destroyers, aircraft, and drones, and represents the most direct US military intervention in the strait since the conflict began.Iran responded by announcing it had "redefined the control zone" around Hormuz, extending its claimed maritime borders to Fujairah -- a port city in the UAE on the Gulf of Oman -- and signaling that Tehran intends to regulate shipping traffic in the area regardless of US escort operations. The competing claims over maritime jurisdiction set up a direct confrontation scenario that markets are now actively pricing as a tail risk.Altcoins Pull Back but Hold GainsOther major cryptocurrencies followed Bitcoin lower from intraday highs but remained broadly positive on the day. Ether traded at $2,341, up 1.2% over 24 hours after touching $2,368 earlier in the session. Solana sat at $84.08, up just 0.2% after starting Monday at $85.14. XRP slipped to $1.40 and BNB retreated to $623. Dogecoin held up better than most, remaining up 2.3% on the day at $0.1102 with the weekly print still at 12.1%.What Comes NextWhether the US denial holds or fresh confirmation emerges from either the Iranian or US side will likely set the directional tone for the remainder of the US session. A confirmed attack would almost certainly trigger a sharp risk-off move across crypto and equities. A sustained US denial that is accepted by markets would likely allow Bitcoin to stabilize around $79,000 and potentially retest $80,000 as the session progresses.The broader setup heading into the week remains constructive -- $301 million in shorts were liquidated in the breakout, the Clarity Act stablecoin compromise is advancing toward a Senate markup, ETF inflows totaled $629.8 million on Friday, and the MSCI Asia record reflects genuine global risk appetite. The Iran headline is a reminder that in the current environment, geopolitical risk can reverse even the most technically compelling breakouts within hours.