The price of bitcoin (BTC) registered a drop this Tuesday, April 7, 2026 after explosions were reported on Kharg Island, in the Persian Gulf. Bitcoin, which was trading near $69,000 a couple of hours ago, immediately gave way to the impact of the news on global markets. The following chart shows how bitcoin has performed over the last 24 hours:
Bitcoin (BTC) price in the last 24 hours. Source: CoinGecko. The detonations add to a scenario of maximum tension. Kharg Island is Iran’s main crude oil export center.
Several explosions caused by US-Israeli airstrikes reported in Iran’s Kharg Island, according to Iran’s semi-official Mehr. pic.twitter.com/sy8SSjzHNd— Ariel Oseran أريئل أوسيران (@ariel_oseran) April 7, 2026
Kharg Islandlocated in the Persian Gulf, just 25 kilometers from the Iranian coast, It is a fundamental pillar of the country’s economysince it manages approximately 90% of crude oil exports. This island is home to three major energy infrastructures, including the Falat Iran Oil Company — which produces 500,000 barrels of crude oil per day — and the Kharg Petrochemical Company. Its storage capacity is around 30 million barrels. Damage to its oil infrastructure would not only affect Iran: it would immediately shake global energy markets.
Kharg Island, near the Iranian mainland coast. Source: Google Maps. And the context of this attack is explosive, literally and figuratively. As reported by BitcoinDynamic this morning, the market awaits expirationscheduled for 8:00 PM Wednesday Washington time, of the ultimatum that President Donald Trump issued to Iran to reopen the Strait of Hormuz. The new detonations in Kharg add another factor of uncertainty to an already loaded equation. If the conflict escalates and Kharg’s oil infrastructure is damaged, the impact on crude oil prices—and a rebound effect on bitcoin—could be severe. The technical analysis points out the $60,000 as the first relevant support for the price of bitcoin in the face of a further deterioration of the scenario.
