Bitcoin Plunges 3% After Trump Signals More Iran Strikes

Bitcoin (CRYPTO: BTC) is down 3%, sinking below $67,000 after President Trump’s Iran war address signaled further escalation over the next two to three weeks, pushing crude oil above $104 per barrel on Thursday. Trump Doubles Down Markets climbed hours before Trump’s speech, pricing in hopes for de-escalation and resumed oil supplies through the Strait of Hormuz. Instead, Trump said the U.S. would “hit” Iran “extremely hard” over the next two to three weeks as military objectives near completion. Trump warned of additional strikes on Iranian electric infrastructure if no deal is reached. He offered no concrete timeline for reopening the Strait of Hormuz, leaving that task to Europe and Asia. Crude oil surged more than 5% to above $104 per barrel on fears of prolonged supply disruptions. Additionally, Iran is reportedly demanding payment in Chinese yuan or crypto for safe passage through the Strait of Hormuz. The ETF Exodus Bitcoin Spot ETFs saw net outflows of $173.73 million on April 1—a significant single-day exit. BlackRock’s IBIT (NASDAQ:IBIT) shed $86.52 million while Fidelity’s FBTC (BATS:FBTC) lost $78.64 million. Only Grayscale’s BTC trust saw modest inflows. Cumulative net inflows sit at $55.95 billion, but the recent weekly trend shows more red than green. When the largest ETF holders pull money in size, it signals institutional repositioning. The Technical Break Bitcoin broke below the lower trendline of the rising wedge that held since February’s lows. The Keltner Channel midline at $68,539 is now resistance rather than support, while the Supertrend at $74,099 remains a distant ceiling. Price is testing the lower Keltner Channel band at $63,411—a level that needs to hold. A daily close below opens a direct path toward $60,000. The descending trendline from the February peak has crossed below the wedge’s upper boundary, confirming the attempted recovery failed to gain traction. Key support sits at $65,000 with $63,411 below that, then $60,000. Resistance clusters at $68,539 (Keltner Channel midline) then $74,099 (Supertrend). Bulls need to reclaim $68,500 fast—every day they don’t, bears get more comfortable. Image: Shutterstock