Oil markets fell sharply while cryptocurrencies recorded modest gains after mixed statements from US President Donald Trump regarding the ongoing conflict involving Iran.
In a phone interview with CBS News, Trump suggested that the military conflict was nearing its conclusion, saying the war appeared “very complete” and that Iranian military capabilities had been significantly weakened. The US military has reportedly struck more than 3,000 targets in Iran during the first week of operations.
Following those remarks, oil prices dropped sharply. Crude fell from a four-year high near $118 to around $85 within hours, reflecting market expectations that the conflict might de-escalate.
War Rhetoric Returns on Social Media
Despite the earlier comments hinting at a potential end to hostilities, Trump later issued a stronger warning on his social platform Truth Social. He cautioned that if Iran interfered with oil shipments through the Strait of Hormuz, the United States would respond with significantly greater military force.
The president also indicated that the US could target infrastructure that would make it difficult for Iran to rebuild its military capacity, while expressing hope that such escalation would not occur.
Crypto Market Sees Modest Recovery
During the same period, crypto markets posted gains. Bitcoin moved back above the $70,000 level, while Ethereum traded slightly above $2,000.
Market analysts noted that digital assets continue to react to broader macroeconomic conditions rather than a unique internal catalyst. Rapid changes in oil prices and geopolitical developments remain key drivers of investor sentiment across risk assets.
Uncertainty Around Conflict Still Remains
Despite signs of market relief, uncertainty continues to surround the conflict. Analysts say the outlook depends on whether tensions truly ease or if military operations expand further.
Iran’s Revolutionary Guard reportedly dismissed Trump’s statements about the war nearing an end, suggesting that Tehran would ultimately determine how the conflict concludes. As a result, markets remain sensitive to new developments that could quickly shift both energy prices and risk asset performance.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.