Bitcoin Tumbles Below $77K as Trump's Strikes Trigger Oil Price Spike

Bitcoin plummeted below $77,000 after US President Donald Trump confirmed new airstrikes on Iranian targets near the Strait of Hormuz. The strikes were described as 'large and powerful' by Trump, who warned of an even harder response if Iran retaliates.

The announcement led to a surge in oil prices, with Brent crude climbing above $94 a barrel amid fears of fresh disruptions in Hormuz. This spike feeds inflation expectations and reduces the odds of near-term US rate cuts, which is historically negative for risk assets like Bitcoin.

Bitcoin, which had closed Monday near $78,500 to $78,900, fell more than 1.3% during the session. The token remains roughly 29% below its October 2025 all-time high of above $126,000.