Bitcoin fell approximately 3.3% to around $66,380 Thursday, triggering over $386 million in crypto liquidations following U.S. President Donald Trump’s prime-time war address. Spot Bitcoin ETFs also saw outflows, ending a four-week inflow streak. Broader markets reacted negatively, with the S&P 500 and gold declining, while crude oil surged from $98 to $107 per barrel as Trump offered no settled view on reopening the Strait of Hormuz.
Bitcoin and broader financial markets tumbled after U.S. President Donald Trump’s address updating the military campaign against Iran, codenamed Operation Epic Fury. In the address, Trump declared major victories and stated core objectives are “nearing completion,” adding, “We’re going to hit them extremely hard over the next two to three weeks.”
Bitcoin dropped to lows near $66,250, according to CoinGecko data. Over $386 million in crypto positions were liquidated from headline-driven volatility, CoinGlass data shows. The S&P 500 and gold declined roughly 2% and 4%, respectively.
Spot Bitcoin exchange-traded funds recorded a $296 million outflow last week, SoSoValue data indicates. “Risk assets are falling because Trump’s speech last night gave no indication that he planned to reopen the Strait of Hormuz,” Jeff Mei, COO of crypto exchange BTSE, stated.
On prediction market Myriad, users now put a 74% chance on crude oil reaching $120 a barrel. They also assign a 54% chance the average ships transiting the strait remain below 15, underscoring persistent uncertainty. “Even if hostilities end, it could take months to secure the Strait and even longer to restore regional oil and gas production to previous levels,” Mei explained.
