Bitcoin Jumps, Oil Drops as Trump Calls Off Planned Iran Strikes
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Bitcoin jumped from $62,300 to a multi-day high of $63,700 within an hour after US President Donald Trump said the US would not execute scheduled attacks against Iran, cutting geopolitical risk and prompting a short-term crypto market rally. At the same time oil slid from over $91 to under $87 within minutes, underscoring correlation between crypto and macro energy markets and the market impact of geopolitical headlines.
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Bitcoin’s price experienced a noteworthy uptick over the past hour or so, jumping from $62,300 to a multi-day peak of $63,700. At the same time, oil prices dropped hard from over $91 to under $87 within minutes.
The main culprit for this is US President Donald Trump’s statement from less than an hour ago that his country will not execute the scheduled attacks against Iran. Interestingly, it came shortly after his latest threats, in which he warned that the US might take out bridges and energy infrastructure.
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