Bitcoin Braces as Trump's Iran Vague-Play Leaves Markets Guessing 🌀

Bitcoin Braces as Trump's Iran Vague-Play Leaves Markets Guessing 🌀

Bitcoin fell alongside Nasdaq futures on Monday after President Donald Trump declined to rule out additional U.S. strikes on Iran before the November midterm elections, keeping geopolitical risk front of mind for traders at the start of a data-heavy week.

At 03:30 UTC, bitcoin (BTC) was down 1.3% at $83,324, with ether (ETH) at $2,665.96, XRP (XRP) and solana (SOL) posting similar losses, according to CoinDesk data. Futures tied to the tech-heavy Nasdaq index traded 0.7% lower, while WTI crude oil futures rose nearly 1% to $93.28, with Brent crude posting comparable gains.

Asked by Fox News whether action could resume, Trump said: "I don't want to say that. I don't want to say that. I mean, it's possible, but I just don't want to say that." He added that he expected the war with Iran to end "very soon" and that victory would come through both military and economic pressure. Iran's Foreign Minister Abbas Araghchi said the country is "fully prepared" for renewed conflict, warning it could withstand a potential "doomsday war." At the United Nations General Assembly, Iran proposed a seven-day reopening of the Strait of Hormuz and a pause in fighting, followed by broader talks. Trump rejected the proposal, telling reporters Iran was seeking a deal because it was under heavy pressure, and reiterating on Truth Social that Iran "cannot have a nuclear weapon."

The conflict, which began in early March, has lifted inflation expectations and pushed the 10-year Treasury yield up 127 basis points to 5.20%, the highest since 2007. Bitcoin, which fell early in the year, has rallied 42% over the past three months, outperforming the Nasdaq and gold, according to market data.

This week's U.S. inflation, manufacturing and employment releases are now in focus, with analysts citing the $83,800–$84,000 zone as near-term support and the $85,000–$85,800 area as immediate resistance.