Bitcoin drops as Trump threatens strike on Iran power plants

As the West Asia conflict escalates, Bitcoin and the overall crypto market declined further on Sunday, after US President Donald Trump warned to attack Iran’s power plants if the Strait of Hormuz is not reopened within 48 hours.

Bitcoin touched $68,241 per coin and if the hostilities remain elevated, Bitcoin can lose even more. Otherwise, it may attempt to reclaim lost ground and reestablish its



prior range above $70,000.

Over $240 million in crypto positions vanished in just about an hour following Trump’s comments. Even though Bitcoin is still up about 7 per cent this month, analysts warn the crypto market is fragile amid rising geopolitical tensions.

Moreover, the sudden spike in tension spooked investors, causing over $1 billion in crypto liquidations within a day.