Key takeaway: Crypto analyst Fefe Demeny has warned that “Israel’s attack in Qatar will nuke the markets tomorrow.”
The call sends elevated headline risk for Bitcoin, XRP and broader risk assets into the next session.
Israel launched airstrikes in Doha, Qatar, on Sept. 9, targeting senior Hamas political figures as ceasefire negotiations were underway. Smoke was seen rising over the West Bay Lagoon district, a residential area that houses members of Hamas’ political bureau.
Qatar’s Interior Ministry confirmed the blasts, saying the attack killed Deputy Corporal Bader Saad Mohammed Al-Humaidi Al-Dosari, a member of its Internal Security Force, and injured several others. It called the strike a “blatant violation of sovereignty.”
Hamas confirmed that five members of its delegation were killed but said Israel failed to assassinate its chief negotiator, Khalil Al-Hayya. “We affirm the enemy’s failure to assassinate the brothers in the negotiating delegation,” Hamas said in a statement, blaming both Israel and the U.S. for the attack.
Israeli Prime Minister Benjamin Netanyahu defended the operation, saying: “The days when the heads of terror enjoyed immunity anywhere are over. I will not allow such immunity for the murderers of our people.” Netanyahu claimed the strike “can open the door to an end of the war in Gaza” if Hamas accepts a U.S.-backed ceasefire framework.
The White House distanced itself from the attack.
U.S. President Donald Trump also sought to clarify his position, writing on Truth Social: “This was a decision made by Prime Minister Netanyahu, it was not a decision made by me. By the time my administration learned of the attack and told the Qataris, there was little I could do to stop it.”
Geopolitical shocks often trigger flight-to-safety behavior across risk assets.
For instance, when Russia invaded Ukraine in February 2022, crypto markets reacted immediately. Bitcoin plunged nearly 8% on the day of the invasion, falling to around $34,000 as investors fled risky assets.
The Middle East has sparked similar volatility. In April 2024, when Iran launched drone strikes against Israel, cryptocurrencies posted one of their sharpest drops of the year. Bitcoin slid 7%, Ethereum fell 9%, and Solana plunged 16% in a matter of hours.
In June 2025, after Israel targeted Iran’s nuclear facilities, Bitcoin tumbled from roughly $111,000 to under $98,000, erasing billions in market value. The selloff triggered more than $1 billion in leveraged liquidations across exchanges before prices began to stabilize.
