Global crypto markets weakened after President Donald Trump issued a hard-line stance toward Iran, intensifying geopolitical risk. Bitcoin traded around $67,980, down about 3.6% from the prior session, slipping below the $68,000 level. Ethereum fell 5.4% to roughly $2,046, while XRP and Solana declined about 4.4% and 4.7%, to $1.38 and $86.11 respectively. Bitcoin breached the 200-week moving average near $68,200, signaling added downward pressure; futures markets reportedly saw sizable short-term liquidations.
The decline comes as Middle East geopolitical risk escalates, weighing on risk assets across the board. Trump warned that Iran would face destruction if the Hormuz Strait is not opened within 48 hours, and Tehran signaled potential retaliation, keeping market nerves on edge. As the conflict unfolds, Bitcoin has fallen nearly 20% during the flare-up, reviving questions about its status as a safe haven.
Analysts say the move reflects a broader market sentiment rather than a fundamental shift in crypto valuations. If risk appetite returns, volatility could ease; otherwise, further downside remains possible as traders reassess macro and geopolitical developments.
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