Bitcoin fell below $62,000 following Trump's statement on Iran
The price of Bitcoin fell below $62,000, losing more than 3% of its value following U.S. President Donald Trump’s announcement that the ceasefire agreement with Iran had been terminated. Investors fear a new round of military conflict and its impact on the global economy.
The cryptocurrency market’s decline was triggered by Donald Trump’s announcement that the ceasefire agreement with Iran had ended, heightening the risk of escalation in the Middle East.
Against this backdrop, leading altcoins, including Ether and Solana, also fell in price. At the same time, the price of Brent crude oil rose by more than 5%, while stock indices in the Asia-Pacific region showed negative trends.
Experts explain that political tensions are heightening uncertainty in financial markets, prompting investors to actively reassess their risk exposure.
Caroline Moron, co-founder of Orbit Markets, noted that Donald Trump’s comments triggered an immediate reaction from investors due to fears of rising inflation, which could be caused by higher energy prices.
In her view, rising fuel prices could force central banks to raise interest rates to curb inflationary pressures. Analysts believe that the nearest support level for Bitcoin could form around $61,500, but the market will remain highly volatile until the geopolitical situation stabilizes.
The current decline has interrupted the positive momentum seen in July, when Bitcoin managed to gain 5.5% following a difficult June—which was the worst month for the cryptocurrency in the past four years, during which its price fell by nearly 18%.
At the same time, experts note that the cryptocurrency market showed resilience at the start of the week, barely reacting to Strategy Inc.’s sale of $216 million worth of tokens, even though the company is the largest corporate holder of Bitcoin.
Bloomberg reported on this.
Earlier, the price of Bitcoin, the world’s most popular cryptocurrency, fell to its lowest level in the past 21 months, reaching $57,742.
Bitcoin had fallen to $61,000, reflecting current market conditions.
Bitcoin fell below $60,000 for the first time since Trump took office.
