Bitcoin Falls Below $67,000 After Oil Spikes, Trump's Iran Warning Rattles Risk Assets

• President Donald Trump vowed to hit Iran “extremely hard” over the next two to three weeks, which led to a surge in oil prices. 
• Brent and WTI crude prices jumped more than 8% on the day, dragging the cryptocurrency market lower. 
• Data showed over $350 million was liquidated over the past day, with over $200 million in long bets forced to unwind.

Bitcoin (BTC) fell back under $67,000 after the broader crypto market came under pressure, with oil prices surging to nearly $110 following President Donald Trump’s address, where he vowed to hit Iran “extremely hard” in the coming weeks.

Bitcoin’s price tumbled 3.2% in the last 24 hours to around $66,400, according to CoinGecko data. Retail sentiment on Stocktwits trended in ‘bearish’ territory over the past day, while chatter rose to ‘normal’ from ‘low’ levels. 

“I can say tonight that we are on track to complete all of America's military objectives shortly. Very shortly, we are going to hit them extremely hard over the next 2 to 3 weeks,” Trump said during his address to the nation, adding that the U.S. military is “very close” to finishing Operation Epic Fury.

Oil Prices Surge After Trump’s Iran Speech

The price of Brent crude oil rose more than 8% to around $108, while the price of West Texas Intermediate (WTI) crude oil also rose more than 8% to around $107, according to TradingView data. 

The United States Oil Fund (USO) rose 7.5% in early morning trade, on track to cross $120 if pre-market gains sustain. On Stocktwits, retail sentiment dipped to ‘bearish’ from ‘neutral’ territory over the past day, and chatter stayed at ‘normal’ levels.

Where Is Bitcoin’s Price Headed Next?

Crypto analyst Ted Pillow wrote in a post on X that if Bitcoin’s price drops below $65,000, “a new low will most likely happen.”

Many users on the platform expect Bitcoin’s price to drop lower before recovery. One of them predicted that Bitcoin is likely to drop to $49,000 before a recovery. 

Others expressed their frustration with Trump’s speech and the impact the U.S.-Iran war has had on markets. 

ETF Outflows, Liquidations Add To Pressure

Data from SoSo Value showed Bitcoin spot ETFs recorded net outflows of $173 million on Wednesday, led by BlackRock’s iShares Bitcoin Trust (IBIT), which saw $86 million in withdrawals. The Grayscale Mini Bitcoin ETF (BTC) was the only one to see inflows of over $10 million. 

The overall cryptocurrency market took a 2.9% hit in the last 24 hours, dropping below $2.4 trillion. CoinGlass data showed over $350 million was liquidated over the past day, with over $200 million in long bets forced to unwind.

Read also: EXCLUSIVE: The Man Who Predicted The Oil Shock, Iran Strikes Says Markets Could Fall Another 18%

For updates and corrections, email newsroom[at]stocktwits[dot]com.