Bitcoin Price Under Pressure as Houthis Attack Saudi Arabia and Trump Signals US Involvement

The weekend is going relatively calmly for bitcoin and most of the crypto market, as is typical, but another macro event in the past several hours threatened to disrupt that.

Yemen’s Houthis reportedly attacked the King Khalid International Airport in Riyadh, Saudi Arabia, with at least 12 people killed and over 300 injured. Saudi Arabia’s authorities have vowed to respond to the attack, while the Houthis are yet to comment on it.

Fighting in the region has escalated in the past week or so, as another three people were killed in separate Houthi strikes on two different Saudi airports on October 6 and 7.

International authorities, as well as US Secretary of State Marco Rubio, strongly condemned the recent attacks. Rubio even confirmed an American citizen was killed. Meanwhile, US President Donald Trump suggested that his country is likely to join the strikes against the Houthis:

“We may. We’re going to look at it. We just found out about the recent attack, so we’ll make a decision. We move very quickly.”

The consequences for bitcoin and the altcoins are not evident yet. BTC has remained close to $83,000, while most alts have remained sideways over the past 24 hours. However, history has taught us that the real volatility arrives on Monday morning when most financial markets start to open.

Recall the events from last week. The tension in the Middle East skyrocketed over the weekend again, with Iran saying it has prepared for a fresh US bombing campaign after Trump’s top security officials met at Camp David on Friday in a meeting focused on that war.

BTC stood in a well-defined range over the weekend, before the fluctuations began on Monday morning with an unsuccessful breakout attempt and a violent rejection.

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