Ceasefire? Over. Risk-Off Mood: Activated. 📉

Bitcoin and ether fell more than 2% on Wednesday after U.S. President Donald Trump declared the ceasefire with Iran "over" and said negotiating with the country is a "waste of time," though talks continue, according to news reports. The comments came as U.S. and Iranian forces exchanged airstrikes in the Middle East.

The U.S. Central Command said it struck more than 60 Islamic Revolutionary Guard Corps small boats to prevent them from disrupting international shipping in the Strait of Hormuz. Iran retaliated with attacks on Kuwait and Bahrain. The renewed tensions lifted the Dollar Index (DXY), which tends to strengthen during risk-off moves tied to inflation concerns.

$BTC traded at $62,222.88 and $ETH declined more than 2%, according to CoinDesk data. The CoinDesk 20 Index dropped 2.9% since midnight UTC, with all but one constituent token posting losses. The sell-off was sharper across altcoins: JUP, ETHFI and PUMP each fell between 5.5% and 9.3%, and Solana wiped out its entire July rally. Roughly $350 million of the $450 million in total crypto liquidations came from altcoin pairs.

U.S. equities also moved lower. Nasdaq 100 index futures and S&P 500 index futures dropped as much as 1.5%. Addressing NATO leaders, Trump said further talks with Iran would not be productive, a stance markets read as confirmation that the geopolitical situation had escalated.

Derivatives positioning offered a mixed picture. $BTC futures open interest fell to 730,000 $BTC from more than 740,000 a day earlier, suggesting traders are not broadly shorting the move. $BTC 24-hour liquidations totaled just over $100 million. $ETH, by contrast, held open interest steady at around 13.95 million tokens even as the spot price decline triggered $90 million in liquidations. The Canton Network's CC token slipped to