Bitcoin trades at $65,996 as of writing, down 3.34% in 24 hours, after U.S. President Donald Trump’s latest speech on the Iran war rattled global markets. The king cryptoy extended losses as investors responded to renewed geopolitical uncertainty and rising energy prices
The sell-off followed a broader risk-off move across financial markets. Oil prices climbed toward $100 per barrel during the speech, while U.S. gasoline prices crossed $4 per gallon for the first time since the conflict began. That shift raised concerns about inflation and consumer pressure. So, where does that leave Bitcoin in the short term?
Trump Speech Raises More Questions Than Answers
Trump told Americans that the war could last another two to three weeks, even as he described the conflict as nearing completion. He repeated earlier claims that the U.S. military had achieved its core objectives under Operation Epic Fury. However, the speech offered no clear roadmap for de-escalation.
Markets reacted quickly. Investors expected clarity, yet the address delivered familiar talking points without new direction. Oil and equities turned lower during and after the speech. Crypto followed.
At the same time, conflicting signals continue to shape sentiment. Trump suggested the war would end soon, yet he also warned of “extremely hard” strikes in the coming weeks. Meanwhile, Iran has not confirmed active negotiations, and attacks in the region continue.
This uncertainty creates a difficult environment for risk assets. Can markets stabilize without a clear geopolitical resolution?
Technical Breakdown Signals More Downside
From a technical point of view, Bitcoin has broken below a key ascending channel. That breakdown signals a shift in momentum as sellers gain control.
Now, attention turns to the $67,000 level. Price action may attempt to retest this zone as resistance. If Bitcoin bulls fail to reclaim and defend that resistance, the path toward lower support opens.
Source: AMForex via X
Traders are closely watching the $64,000 area as the next key downside target. A move toward that level would confirm a deeper correction phase. On the other hand, a strong recovery above $67K could invalidate the bearish setup.
So, what happens next? The answer depends on how the price reacts at the resistance.
Macro Pressures Continue To Build
Beyond technicals, macro factors continue to weigh on sentiment. Rising oil prices and elevated gas costs add pressure to global economies. Higher energy costs often reduce liquidity and risk appetite, which directly impacts crypto markets.
At the same time, uncertainty around the Strait of Hormuz and ongoing military activity keep volatility elevated. Investors remain cautious as they assess the broader impact on inflation and central bank policy.
Bitcoin often reacts strongly to these shifts. When uncertainty rises, capital tends to rotate into safer assets. That pattern appears to be playing out again.
Still, markets can turn quickly. If geopolitical tensions ease, risk assets may recover just as fast. For now, remain focused on key levels and incoming headlines.
Source: https://coinpaper.com/15954/btc-price-forecast-falls-to-66-k-after-trump-speech-on-iran
