Key Takeaways
- Bitcoin experienced a ~2.9% decline, falling to approximately $66,400 following Trump’s national address regarding Iran
- President Trump announced plans to strike Iran “extremely hard” within the coming 2–3 weeks
- Oil prices surged beyond $104 per barrel; US equity futures shed over $550 billion in value
- BTC futures open interest declined 2.5% within a 4-hour window, indicating negative derivatives market sentiment
- Bitcoin exchange-traded funds recorded their first positive monthly capital flow since October, attracting $1.2 billion throughout March
Bitcoin experienced a significant downturn on Thursday in the wake of President Donald Trump’s televised address concerning the escalating military confrontation with Iran. Financial markets had anticipated indicators of tension reduction, yet the President’s remarks suggested the contrary.
During his address, Trump informed Americans that military forces would “hit them extremely hard over the next two to three weeks,” in reference to Iranian targets. While he indicated that military operations were nearing their stated goals, he provided no concrete timeline for a potential ceasefire arrangement.
Energy markets reacted swiftly to the announcement. Crude oil prices surged 5%, climbing above the $104 per barrel threshold. With the Strait of Hormuz continuing to face blockade conditions, Trump’s speech offered no reassurance regarding its imminent reopening.
Prior to the presidential address, Bitcoin had been changing hands near $69,230. By Thursday morning’s early trading hours, the cryptocurrency had descended to $66,393, representing an approximate 2.9% decrease within a 24-hour timeframe.
The wider cryptocurrency ecosystem mirrored this downward trajectory. Major digital assets including Ethereum, XRP, Solana, and Dogecoin all registered substantial declines. Bitcoin’s trading volume contracted by more than 8% during this same interval.
Futures Markets Indicate Elevated Selling Activity
Analytics from CoinGlass revealed that aggregate BTC futures open interest contracted 2.5%, falling to $46.49 billion within merely four hours following Trump’s remarks. CME’s open interest decreased 2.70%, while Binance recorded a 2.96% reduction. Such movements generally indicate traders liquidating bullish positions.
The Coinbase Premium metric, which tracks purchasing demand from American investors, shifted into negative territory. This development implies that US retail market participants are refraining from accumulating during the price decline, at least for the immediate term.
Financial 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, whereas the 10-year Treasury yield advanced to 4.376%. Precious metals experienced losses, with gold declining more than 2% and silver dropping over 4%.
Bitcoin Exchange-Traded Funds Report Positive March Performance Despite Current Selloff
Notwithstanding the present market downturn, Bitcoin ETFs registered their first positive monthly capital inflow since October. Spot Bitcoin ETF products accumulated $1.2 billion in fresh capital during March following four successive months of net withdrawals.
Bitcoin had nonetheless outperformed numerous risk-oriented assets throughout March, achieving modest appreciation while equities and precious metals declined. Despite this relative strength, BTC remains approximately 24% lower in 2026 and has predominantly fluctuated around the $60,000 level throughout the year.
Iranian officials have stated their requirement for payment in Chinese yuan or cryptocurrency for transit rights through the Strait of Hormuz. No direct diplomatic discussions between American and Iranian representatives have occurred since hostilities commenced more than one month ago.
At the time of publication, Bitcoin was trading at $66,393.
