Crypto markets declined sharply on Thursday morning after a speech from the U.S. President regarding continued conflict in the Middle East. Bitcoin fell below $67,000, while Ethereum dropped under $2,100. Analysts cited structural selling pressure from Bitcoin whales and noted that broader market selling outweighed institutional accumulation.
Crypto markets declined significantly on Thursday morning. This movement followed a speech from the U.S. President, who stated military objectives would be completed shortly and that operations would continue for two to three weeks.
Bitcoin prices dropped to $66,770 after the address. The Kobeissi Letter observed the market reaction occurred because the President did not explicitly de-escalate the situation.
“Between threatening Iran’s power plants, saying the Iran War would last 2-3 more weeks, and calling out NATO, there was nothing new,” they stated. Oil prices surged back over $100 per barrel, adding pressure to fuel-dependent economies.
CryptoQuant data showed Bitcoin whales have flipped from buyers to sellers. Holders of wallets containing 1,000 to 10,000 BTC are now distributing their assets.
“This isn’t short-term. The 365-day trend is declining, signaling structural selling pressure,” the analysis noted. Overall Bitcoin spot demand remains in deep contraction, according to their data.
In a separate post, a CryptoQuant analyst said Bitcoin’s “supply in profit” has hit a multi-year floor while “supply in loss” is spiking. They stated this alignment has historically marked the terminal phase of market corrections.
Ethereum prices dipped back below $2,100 but remained above the $2,000 level. Altcoins experienced heavier losses, including BNB, Solana, and Bitcoin Cash. Bull Theory remarked that everything rallying on peace hopes sold off immediately.
