Gate News, driven by the impact of U.S. President Trump’s latest tough remarks toward Iran, the crypto market weakened again. On Wednesday, Bitcoin fell 2.2% to $66,609, giving back the previous day’s gains; Ethereum also slipped to $2,056, while Solana’s decline widened to 5.2%, leading among major assets. The market had originally expected the situation to ease, but in a nationwide address, Trump said clearly that over the next two to three weeks the U.S. will carry out “severe strikes” against Iran, shattering earlier optimistic expectations.
In this roughly 20-minute speech, Trump did not provide a ceasefire roadmap or a policy shift, nor did he give a specific timetable for reopening the Strait of Hormuz—he only said that after the conflict ends, passage would “naturally” resume. Affected by this, Brent crude rose by about 5%, breaking through the $106 level; global stock index futures generally fell, the U.S. dollar strengthened, U.S. Treasuries came under pressure, and inflation expectations warmed up again.
The pace of volatility in the crypto market is becoming even more apparent. Over the past five weeks, Bitcoin has been trading in a range of $60,000 to $73,000, oscillating continuously; each time geopolitical tensions escalated, it triggered sell-offs, while signs of easing also pushed short-term rebounds, but the overall market has not yet produced a trend-breaking breakout. At present, the Fear and Greed Index has fallen to 8, staying in the extreme fear range, reflecting a significant decline in the market’s risk appetite.
Although historical data shows that April is usually a stronger month for Bitcoin, the current macro environment is clearly taking the lead. War risk is pushing up energy prices, further affecting inflation and interest-rate expectations, thereby suppressing valuations of risk assets. In the short term, as long as there are no clear signs of easing in the Middle East situation, major crypto assets such as Bitcoin and Ethereum may still maintain a high-volatility pattern, with market sentiment likely to continue being driven by policy and military developments. (CoinDesk)
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