Key Takeaways
- Bitcoin declined 2.2% to $66,609 following Trump’s evening speech that signaled continued conflict with Iran
- Solana experienced the steepest decline among major cryptocurrencies, plummeting 5.2%
- Major U.S. stock index futures dropped more than 1% across the board
- Brent crude oil jumped 5% to surpass $106 per barrel amid escalation concerns
- Market sentiment indicator shows extreme fear with a reading of 8
Cryptocurrency markets and U.S. equity futures experienced significant declines following President Trump’s Wednesday evening national address, which failed to provide any indication of an imminent resolution to the U.S.-Israeli military conflict with Iran.
NOW – Trump on Iran: “We’re going to hit them extremely hard over the next 2-3 weeks. We’re going to bring them back to the stone ages, where they belong!” pic.twitter.com/knSmNB9OQk
— Disclose.tv (@disclosetv) April 2, 2026
During his address, Trump announced that American forces would strike Iran “extremely hard” throughout the coming two to three weeks—a message that disappointed market participants hoping for de-escalation.
Prior to the address, market sentiment had been tentatively bullish. Trump’s earlier comments had hinted at a potential conflict resolution within weeks, suggesting a comprehensive agreement with Tehran might not be necessary. Asian equity markets had rallied 4%. S&P 500 futures climbed higher. Optimism reached levels not seen in five weeks.
The president’s speech reversed that momentum entirely. During the nearly 20-minute address, Trump provided no deviation from existing Iran strategy, no concrete timeline for ending hostilities, and no detailed information regarding future military activities.
Bitcoin retreated 2.2% to $66,609, erasing the previous session’s advances. Ether declined 2.2% to $2,056. BNB slipped 3.9% to $591. XRP decreased 2.5% to $1.31.
Among the top 10 digital assets by market capitalization, Solana posted the largest losses, tumbling 5.2% and pushing its week-to-date decline to 13%.
Equity Futures Mirror Crypto Weakness
American stock index futures tracked cryptocurrency markets downward. S&P 500 futures declined 1.3%. Nasdaq 100 futures slid 1.6%. Dow Jones futures retreated 1.2%.
Global equity markets experienced similar pressure. Asian stock indices dropped 2.1% in the aftermath of the speech. The greenback gained strength. Government bonds declined on elevated inflation worries.
Brent crude surged 5% to breach $106 per barrel. Oil prices have climbed approximately 40% since hostilities commenced in late February. The strategically vital Strait of Hormuz, shuttered since mid-March, continues to obstruct crucial oil shipment routes. Trump indicated the passage would reopen “naturally” following the conclusion of military operations, though he provided no specific timeframe.
Bitcoin Remains Range-Bound for Fifth Consecutive Week
Bitcoin has remained confined within a trading range of approximately $60,000 to $73,000 for five consecutive weeks. The digital asset declines with each escalation announcement and recovers with each de-escalation signal.
The Fear and Greed Index currently registers 8, indicating deep extreme fear conditions. This metric has fluctuated between 8 and 14 throughout the past month.
Certain market participants find encouragement in historical patterns. April has traditionally been among bitcoin’s most favorable months, recording positive returns in 10 of the past 15 years with an average monthly increase of 20.9%.
Bitcoin also found support at its two-month ascending trendline near $60,000 during the previous week and is attempting to recover its 50-day moving average.
Thursday represents the final trading session of the abbreviated holiday week. Markets close for Good Friday. Economic data releases include weekly unemployment claims on Thursday morning and the March employment report on Friday.
Trump acknowledged that Iran’s leadership had initiated ceasefire discussions with the United States, though he emphasized that any potential agreement would require the reopening of the Strait of Hormuz.
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