Key Takeaways
- Bitcoin declined approximately 2.9% to the $66,400 level following Trump’s televised address regarding Iran operations
- The President indicated military operations against Iran will intensify “extremely hard” throughout the coming 2–3 week period
- Oil markets reacted violently, with crude prices jumping past $104 per barrel while US equity futures hemorrhaged over $550 billion
- Futures open interest for BTC contracted by 2.5% within a four-hour window, indicating negative derivatives positioning
- Spot Bitcoin ETF products recorded their first positive monthly flow since October, attracting $1.2 billion during March
The leading cryptocurrency experienced a notable decline Thursday following President Donald Trump’s national broadcast addressing the escalating Iran situation. Investors had anticipated signals pointing toward diplomatic resolution, but the President’s remarks suggested continued military engagement.
During his address, Trump emphasized that American forces would “hit them extremely hard over the next two to three weeks,” specifically referencing Iranian targets. While acknowledging progress toward military goals, the President provided no concrete timeline for ending hostilities.
Energy markets reacted swiftly to the announcement. Crude oil futures surged 5%, breaching the $104 threshold per barrel. With the Strait of Hormuz blockade persisting and no indication of resolution from Trump’s speech, concerns about supply disruptions intensified.
Bitcoin had been hovering near $69,230 before the President’s remarks. Within 24 hours of the address, the digital asset had retreated to $66,393, representing approximately 2.9% erosion in value.
The wider digital asset ecosystem mirrored Bitcoin’s descent. Major tokens including Ethereum, XRP, Solana, and Dogecoin all registered significant losses. Bitcoin’s trading volume simultaneously contracted by more than 8% during the identical timeframe.
Futures Data Reveals Liquidation Activity
According to metrics from CoinGlass, aggregate BTC futures open interest contracted 2.5% to $46.49 billion during a four-hour span immediately following Trump’s speech. CME platform data showed open interest declining 2.70%, while Binance recorded a 2.96% decrease. Such movements generally indicate traders unwinding bullish positions.
The Coinbase Premium indicator, tracking domestic US purchasing pressure, shifted into negative territory. This development suggests American retail participants are refraining from accumulating during the current price weakness.
Market commentators Lyn Alden and Rory Johnston observed that markets “didn’t really learn anything more from Trump’s Iran War address, but those things he reaffirmed are likely going to continue driving crude prices higher.”
The US Dollar Index appreciated 0.33% to reach 100, while 10-year Treasury yields climbed to 4.376%. Precious metals faced selling pressure, with gold declining over 2% and silver tumbling more than 4%.
ETF Products Show Resilience Despite Current Weakness
Notwithstanding the present selloff, Bitcoin exchange-traded fund products achieved their first positive monthly accumulation since October. Spot Bitcoin ETFs attracted $1.2 billion throughout March following four consecutive months of redemptions.
Bitcoin had managed to outperform numerous risk-sensitive assets during March, registering modest appreciation while equities and commodities declined. Nevertheless, BTC remains approximately 24% lower in 2026 and has predominantly traded within the $60,000 vicinity throughout the year.
Iranian authorities have stipulated they will accept Chinese yuan or cryptocurrency as payment for transit rights through the Strait of Hormuz. Direct diplomatic engagement between Washington and Tehran has remained absent since hostilities commenced over 30 days ago.
At publication time, Bitcoin was exchanging hands at $66,393.
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