Bitcoin, Ethereum Slip as Trump Says He's 'Not Desperate' to End Iran War
Bitcoin fell 2.3% to around $69,170, while Ethereum and Solana dropped 4.4% and 5% respectively, reflecting broader declines in U.S. equities due to geopolitical uncertainty in the Middle East. The S&P 500 closed 1.7% lower, the Nasdaq fell over 2.3%, and the Dow dropped 470 points amid uncertainty about Iran’s willingness to negotiate. Statements from Trump vacillated between urging Iran to negotiate and claiming Iranian leaders are seeking a deal, while Iranian officials denied interest in talks. U.S. officials presented a 15-point peace framework via Pakistan to Iran, but Iran’s foreign minister confirmed no intention to negotiate. Crypto markets displayed defensive behavior, with increased capital allocation to stablecoins and staking tokens. Bitcoin remains above its low of $63,200 recorded after the conflict began 28 days ago, but investors showed a persistent demand for downside hedging. Brent crude oil prices rose 5% to $107 per barrel. Prediction markets indicated a majority expecting crude oil to reach $120 before $55, and a slightly greater probability that Bitcoin’s next significant move will be down to $55,000 rather than up to $84,000.
