Bitcoin prices declined while crude oil surged above $100 per barrel following a national address by Donald Trump regarding the ongoing conflict with Iran. During the speech, the president stated that US forces were “very close” to completing military objectives under Operation Epic Fury and warned that Iran would be hit “extremely hard” over the next two to three weeks.
Crude oil prices climbed to approximately $105.59 per barrel after the address, reflecting rising supply concerns linked to tensions in the Strait of Hormuz. Meanwhile, Bitcoin dropped roughly 2.5%, trading near $66,604 as market uncertainty increased.
Middle East Conflict Drives Market Volatility
The conflict intensified earlier in February after joint strikes by the United States and Israel, prompting Iran to impose a blockade on the Strait of Hormuz, one of the world’s most critical oil transport routes. The blockade disrupted supply expectations and added upward pressure to global energy prices.
Trump stated that discussions between both sides remain ongoing, with the US demanding the dismantling of Iran’s nuclear programs, restoration of commercial shipping channels and an end to regional proxy support. Iran, in contrast, is seeking compensation for damages, a permanent end to the war and removal of US military presence.
Outlook for Oil, Bitcoin and Financial Markets
The president suggested that once the conflict ends, oil shipments through the Strait of Hormuz will resume naturally, potentially lowering fuel costs and stabilizing financial markets. He also predicted that stock markets would recover as tensions ease and trade flows normalize.
However, the short-term outlook remains uncertain as geopolitical risks continue to influence commodity prices, cryptocurrency valuations and broader investor sentiment.
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.