Bitcoin price drops towards $65k as Trump warns of continued Iran strikes

Bitcoin price drifted closer to a key support zone near $65,000 after Donald Trump signaled that military action in the Middle East is set to continue over the coming weeks.

Addressing the nation from the White House on Wednesday, Trump said U.S. forces are nearing the final stages of “Operation Epic Fury,” describing it as a campaign that has already crippled large parts of Iran’s nuclear and naval infrastructure. 

Even so, the tone of the address left little room for de-escalation in the short term.

“We are on track to complete all of America’s military objectives shortly,” he said, before adding that the U.S. would “hit them extremely hard over the next 2 to 3 weeks.”

Markets reacted quickly. Oil prices reversed earlier softness and climbed back above the $100 mark, reflecting renewed concern over supply disruptions tied to the Strait of Hormuz. The move fed into broader unease, with equities and digital assets slipping as traders reassessed geopolitical risk.

Bitcoin (BTC), which had shown signs of stabilizing earlier in the week, extended its decline, dropping over 2% since Trump took the stage. Price action hovered just above $66,500 at last check, with buyers attempting to hold the $65,000 region that has repeatedly acted as a near-term floor.

A sustained break below it would weaken the current structure and open the door toward the $60,000 range, an area that previously drew in demand during earlier pullbacks. Market participants have treated this zone as a key inflection point, where downside momentum either stalls or accelerates.

At the same time, diplomatic channels have not been fully shut. Trump has acknowledged that discussions are ongoing, even as military pressure builds.

Washington has continued to push for Iran to dismantle its nuclear program and allow greater oversight of its facilities, alongside restoring open commercial shipping routes. Tehran, on the other hand, has called for a permanent ceasefire, compensation for damages, and a complete withdrawal of U.S. forces from the region.

Looking ahead, Trump maintained that the disruption to global energy flows may not last indefinitely. He argued that Iran would eventually ease restrictions on oil movement as it looks to rebuild.

“When this conflict is over, the strait will open up naturally,” he said, adding that oil would resume flowing and gas prices would fall as economic activity picks up again.

Any meaningful de-escalation could offer relief to risk assets, including Bitcoin, as lower energy costs and reduced geopolitical tension tend to support liquidity conditions. Until then, markets remain sensitive to headlines, with crypto trading closely tied to shifts in oil prices and broader macro signals.