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Oil Soars, Bitcoin Plunges as Trump Declares Iran MoU ‘Is Over’
Jul 8, 2026
< 1 min read
by Jordan Lyanchev
for CryptoPotato
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US President Donald Trump saying the memorandum of understanding with Iran 'is over' triggered immediate market volatility, with oil prices surging and BTC dipping below $62,000. The geopolitical escalation raises short-term crypto market risk and could pressure BTC price and trading activity while increasing volatility across crypto, DeFi and CEX platforms.
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The de-escalation in the Middle East appears to be threatened severely as US President Donald Trump just said the memorandum of understanding (MoU) with Iran ‘is over.’
Most assets opened for trading now reacted with immediate volatility: oil prices rocketed, while BTC dipped below $62,000.
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