Trump threatens Iran strikes as Bitcoin retreats

The president declared that the existing memorandum of understanding between Washington and Tehran is effectively void. Trump accused Iranian officials of negotiating in bad faith, claiming they frequently reneged on private commitments. He maintained that Iran remains a primary destabilizing force in the region, asserting that the country must be prevented from acquiring nuclear capabilities at any cost.

Market participants responded by shedding risk-on assets, with Bitcoin dropping more than 2% from its earlier intraday highs. Investors are now bracing for potential escalation, as Trump signaled that military operations could expand to target high-level assets, including Kharg Island. He further suggested a possible naval blockade at the Strait of Hormuz, a critical transit point for global energy supplies. West Texas Intermediate crude futures climbed to $74 per barrel as traders priced in the risk of severe bottlenecks in the Gulf. Despite months of back-channel discussions, the administration appears to be pivoting away from diplomacy, leaving markets to grapple with the prospect of sustained volatility.