Bitcoin Declines as Trump Raises Specter of Iran Conflict
Bitcoin is experiencing a downturn, with the cryptocurrency market reacting negatively to the possibility of a U.S.-Iran conflict. Bitcoin (BTC) has fallen 3.8% in the past 24 hours, trading below $104,000 once more. The broader CoinDesk 20 index, which tracks the performance of the top 20 cryptocurrencies (excluding stablecoins, exchange coins, and memecoins), saw a 6.1% decline over the same period. Ether (ETH) and Solana (SOL) both dropped by 7%, while Sui (SUI) experienced a nearly 10% decrease.
This market contraction also impacted crypto-related stocks. Companies like Coinbase (COIN), MicroStrategy (MSTR), and Circle (CRLC) each saw declines of 2%-3%. Bitcoin mining operations, including Bitdeer (BTDR), Riot Platforms (RIOT), CleanSpark (CLSK), HIVE Blockchain (HIVE), and Hut 8 (HUT), all recorded losses of 6%-7%. This market shift occurred after President Donald Trump's remarks hinting at potential U.S. involvement in the ongoing conflict between Israel and Iran.
