Bitcoin Drops Below $77,000 Amid Trump's Iran Strike Announcement
Bitcoin prices fell below $77,000 after US President Trump confirmed new airstrikes on Iranian targets near the Strait of Hormuz. The move came just three days after the token hit an all-time high of $80,000 following a sudden bull run triggered by the US Treasury.
According to Trump's announcement, the strikes were in retaliation for Iran's failed attempt to plant sea mines in the strait, which have since been completely removed or detonated. The Iranian military responded with missile launches against US bases in Jordan, but all of them were intercepted.
The news sparked a 1.3% to 2% decline in Bitcoin prices during the session, leaving the token roughly 29% below its October 2025 all-time high of above $126,000. Oil prices, on the other hand, surged amid fears of fresh disruptions in Hormuz, climbing above $91 to $94 a barrel.
Analysts pointed out that the spike in oil prices would feed inflation expectations and reduce the odds of near-term US rate cuts, an environment that has historically weighed on risk assets like Bitcoin. The token remains vulnerable to selloffs due to its sensitivity to geopolitical events, particularly those affecting global crude supply.