Trump Speech Triggers Crypto Sell-Off as Oil Prices Jump

Crypto prices today declined alongside global risk assets as rising oil prices and geopolitical tensions affected investor sentiment. The move followed recent public remarks by Donald Trump referencing continued conflict involving Iran and potential disruptions to energy supply routes.

Oil prices rose more than six percent to above $103, based on market data, amid concerns around the Strait of Hormuz, a major corridor for global oil shipments. Higher energy prices have increased inflation risks, which may delay potential interest rate cuts by central banks. Rising rates typically reduce liquidity in financial markets and can pressure assets such as cryptocurrencies.

What did Trump say Today?

In a 19-minute address, Donald Trump said the conflict with Iran could continue for another two to three weeks. He stated that U.S. operations are close to completion but warned that more strikes could follow if no agreement is reached, including attacks on power infrastructure. He also said Iran’s navy has been destroyed and added that the U.S. will not depend on oil passing through the Strait of Hormuz going forward.

Trump said the United States is “going to hit them extremely hard over the next two to three weeks,” adding that the attacks would “bring them back to the Stone Ages.” 

The speech did not include any details about a ceasefire or a clear plan to end the conflict. There was no update on possible negotiations with Iran. Trump also did not address how the situation could affect oil supply, fuel prices, or inflation.

Oil prices rose during the speech, moving above $103 by the end. The move shows that markets expect the conflict to continue rather than ease in the near term.

Broader Market Weakness Extends to Crypto

Equity markets also declined, with the Nasdaq falling 1.40 percent, while the volatility index (VIX) moved higher, indicating increased uncertainty. Within the crypto market, Bitcoin traded near $67,300, down about 0.6 percent, while Ethereum remained close to $2,098, according to aggregated market pricing data.

Most major cryptocurrencies, including Solana, XRP, and Cardano, recorded losses during the session. The decline coincided with a stronger U.S. dollar and reduced demand for higher-risk assets.

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Bitcoin and Ethereum Hold Near Support Levels

Bitcoin price is trading below resistance near $69,200 after failing to sustain levels above $67,500. The recent price structure indicates a series of lower highs and lower lows. Immediate support is seen near $65,700, followed by $64,900, based on recent market levels.

Ethereum also moved lower after failing to hold recent gains. The asset is trading close to support at $2,010, with additional levels near $1,905. Further downside levels near $1,736 and $1,655 remain relevant based on prior price zones.

Data from crypto derivatives markets indicates rising open interest in Bitcoin call options at the $80,000 strike price for May 2026. Such positioning is commonly used for hedging or longer-term exposure rather than near-term price direction.

Crypto markets remain sensitive to macroeconomic conditions, including oil prices, interest rate expectations, and geopolitical developments. Current price action aligns with broader weakness across risk assets, with no immediate shift in trend indicated by available market data.