Key Points:
- Bitcoin fell to $66,500 after President Trump promised tougher strikes against Iran.
- Major cryptocurrencies like Ether and Solana saw even sharper declines of around 5%.
- Oil prices jumped to over $106 a barrel as investors fled risky assets.
- Large “whale” investors are selling off their holdings due to a lack of market confidence.
Bitcoin took a hit on Thursday after President Trump suggested that the U.S. would launch tougher military strikes against Iran in the coming weeks. The news rattled investors who were hoping for a quick end to the conflict. Bitcoin fell nearly 3%, trading at around $66,500, while other digital assets saw even deeper losses.
It wasn’t just Bitcoin that felt the pain. Major tokens like Ether and Solana dropped by about 5% as the bad news spread. At the same time, the broader stock market in Asia fell by 1.7%. Meanwhile, oil prices surged as Brent crude jumped above $106 a barrel. Investors are clearly moving their money out of risky tech and crypto and into commodities like oil.
Analysts say the market is “whipsawing” based on every new comment from the White House. Earlier this week, things looked better when Trump hinted he might end the war soon. But his latest speech soured that mood completely. Now, the market is back in a state of high anxiety, reacting to every geopolitical headline.
Even though Bitcoin had a decent month in March, it is still struggling in the long run. The token is down about 45% from its all-time high of $126,000 back in October. According to recent data from CryptoQuant, more people are selling Bitcoin than buying it. The actual demand for the coin has turned negative for the first time in months.
Big investors, often called “whales,” have started offloading their coins. They seem to be waiting for more clarity on government regulations or a break in the war before they commit more cash. On Wednesday alone, investors pulled $174 million out of Bitcoin ETFs, showing that even the big institutional players are getting nervous about the future.
For now, the crypto market is stuck waiting for a clear sign of what comes next. Traders are keeping a close eye on geopolitical tensions and waiting for the “Clarity Act” to provide some legal rules. Until the war shows real signs of stopping, most experts expect Bitcoin and other risky assets to stay very volatile.
