Donald Trump's proposal for a two-week ceasefire tied to safely reopening the Strait of Hormuz pushed crypto and gold higher while oil and the dollar slipped.
Bitcoin traded cautiously near technical support after President Trump's threat against Iran rattled markets, lifting intraday volatility across crypto and equities. Traders are watching headlines as risk appetite shifts.
Bitcoin fell under $68,000 on April 7, touching an intraday low of $67,724 after U.S. and Israeli strikes on Iranian infrastructure stirred risk-off flows. The move followed a failed attempt to clear $70,000 and coincided with roughly $60 million in leveraged liquidations, per Coinglass.
Cryptocurrency markets climbed 2.5% Monday after President Trump hinted at a possible diplomatic resolution with Iran over the Strait of Hormuz, while U.S. stock futures slipped.
Cryptocurrency markets and U.S. stock futures tumbled Wednesday night after President Trump's televised address failed to signal a near-term de-escalation in the intensifying U.S.-Israeli conflict with Iran. Traders moved into risk-off positions as uncertainty spiked.
Investors pulled $414M from crypto investment products last week amid Iran conflict fears, with Ethereum alone accounting for $221.8M in outflows. The concentrated ETH exits have heightened risk-off sentiment and could increase near-term volatility.
Washington said it has no plans to invade Iran in the near term, but the reassurance failed to stop a sharp crypto market sell-off that pushed prices to new lows despite reports of ongoing peace talks.
A Nasdaq-led correction accelerated a global selloff on Friday, dragging crypto-focused equities lower as a $17 trillion rout erased gains. The move continues a pattern since the Iran war began, where Monday rallies have repeatedly reversed into losses by week’s end.
Large holders scooped up about 61,000 BTC amid global turmoil, though some moved coins to exchanges during a March 19 price dip tied to Iran tensions. The net accumulation points to sustained demand from big wallets despite intermittent selling.
Bitcoin fell about 1% in early Thursday trading after reports that President Trump privately told advisors he wants the U.S.–Iran conflict wrapped up within weeks. Reduced geopolitical risk pressured demand for crypto as a hedge.