Bitcoin Weakens While Oil Climbs After Trump Signals Continued Iran Strikes
Crude oil climbed back above $100 a barrel and Bitcoin slipped as US President Donald Trump used a White House address to say the military campaign in Iran was close to wrapping up, while also warning that more strikes c...
Crude oil climbed back above $100 a barrel and Bitcoin slipped as US President Donald Trump used a White House address to say the military campaign in Iran was close to wrapping up, while also warning that more strikes could come in the next two to three weeks.
Markets Move FirstBitcoin fell about 2% during the speech, and the price was later reported at $66,400, down from where it started the address. Oil moved the other way, with crude rising to $103.55 a barrel after easing earlier in the week.
The reaction fits a familiar pattern. As conflict risk rises in the Middle East, traders often move away from assets seen as risky and into markets tied more directly to energy and supply shocks. In this case, crypto and oil were moving in opposite directions almost in real time.
Trump told viewers that the US military was close to completing what he called its main goals. He also said Iran’s nuclear, naval and drone capabilities had been badly damaged, along with missile and weapons production sites.
The speech did not calm markets for long. Oil had already been under pressure earlier in the week after Trump suggested the fighting could wind down within weeks, but the latest remarks pushed prices back up and revived concern that the conflict may last longer than hoped.
Ceasefire Talk Meets New ThreatsTrump also said talks were continuing, but he paired that message with a harder line. According to the address, the US is demanding that Iran give up its nuclear program, open commercial shipping routes, and stop backing regional proxy groups.
Iran’s demands were far broader. Reports note that Tehran is seeking a permanent end to the war, compensation for damage, and an end to the US military presence in the region.
That gap between the two sides left little room for confidence. The White House speech suggested progress, but the warning of fresh strikes over the next few weeks kept the pressure on traders and helped explain why both oil and crypto moved sharply during the address.
Strait Of Hormuz Remains In FocusThe conflict has already rattled energy markets before. Tensions intensified in February after US and Israeli strikes on Iran, and Iran answered by blocking the Strait of Hormuz, a key route for global oil shipments.
Trump said the blockade would lift naturally once the conflict ends, arguing that Iran would need to sell oil to rebuild its economy. He also said gas prices would come back down and stock prices would rise again.
Featured image from jiss.org.il, chart from TradingView
Original source
Read on NewsBTCRelated market context
US military was poised to strike Iran before Trump called it off, sending Bitcoin surging
The event highlights the volatile interplay between geopolitical tensions and financial markets, emphasizing crypto's role in sanc...
Trump says deal to end Iran war is close after calling off strikes, and crypto markets are paying attention
The potential Iran deal could reshape global crypto markets by unlocking significant assets, impacting liquidity and compliance dy...
Crypto News, June 12: Bitcoin Pump and Dump As Trump Says Iran Peace Deal “Closing” for The 40th time, Clarity Act Heats Up at SpaceX IPO Day
Trump is stirring the news and crypto with a fresh Iran peace deal, again. Also, we are in to witness SpaceX IPO as it kicks off w...
Bitcoin at $63,400 as Iran Says Strait of Hormuz Remains Closed Despite Trump’s ‘Great Deal’ Claim
Iran said the Strait of Hormuz remains closed despite President Donald Trump’s claim of a settlement, keeping pressure on oil and...
BTC Jumps 3% on Iran Peace Deal But Fed Meeting Keeps Institutions Cautious
Bitcoin News: BTC price climbed from $61,100 to above $63,400 on June 11 after President Trump cancelled planned Iran strikes and...
Israel prepares military options against Iran’s nuclear program as crypto markets feel the shockwaves
Geopolitical tensions over Iran's nuclear program highlight the vulnerability of highly leveraged markets, impacting global financ...