Bitcoin (BTC) and Altcoins Fall, Oil Rises!

The US-Iran war, which has been going on for over a month, is expected to end soon. However, an end to this war still seems far off.

Because in his recent statements, US President Donald Trump said that the US would attack Iranian energy facilities within 2-3 weeks.

In a national address, Trump stated that the U.S. has several options for targeting Iranian oil, including seizing key energy facilities. He further indicated that the U.S. would attack Iranian energy facilities within the next two to three weeks.

“…We are about to complete all of the US military objectives in a short time. Very soon, within the next 2-3 weeks, we will deliver an extremely hard blow to them.”

Trump also stated that most of the Iranian leaders were already dead and that their naval and air forces no longer existed. He argued that the US had achieved a swift and decisive victory. Trump further asserted that the US did not need oil from the Middle East and would never allow Iran to possess nuclear weapons.

Bitcoin ($BTC) and Altcoins Experience a Decline!

Following Trump’s harsh statements, Bitcoin ($BTC) lost value. The $BTC price fell below $67,000, and all major tokens in the top 10 by market capitalization also experienced a decline in value.

Ethereum (ETH) fell 4.5% to $2,050, BNB dropped 4.9% to $590, XRP lost 3.1% to $1.30, and Solana (SOL) suffered the biggest loss with a 6.2% drop, bringing its weekly decline to 11%.

In contrast, oil prices rose by 5% to over $106.

In the cryptocurrency market, a recurring pattern has been observed in recent weeks. Bitcoin has been fluctuating between approximately $60,000 and $73,000 in recent weeks, with sharp sell-offs in Bitcoin and altcoins occurring with every negative development related to the war. According to data from Bitcoinsistemi.com, the Fear and Greed Index remains at an extreme fear level with a reading of 12.

*This is not investment advice.