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Bitcoin, ether, solana slide further as Trump threatens to hit Iran ‘extremely hard’
Crypto and equities sold off after the president’s national address undermined a two-day rally built on expectations the war was ending. Oil jumped 5% to above $106.
Apr 2, 2026, 4:10 a.m.
What to know:
- Bitcoin and other major cryptocurrencies fell after President Trump’s primetime address signaled a tougher stance toward Iran and offered no clear path to de-escalation.
- The speech reversed a short-lived global market rally, sending oil prices higher, stocks and futures lower, and reinforcing bitcoin’s recent pattern of reacting sharply to war headlines.
- Despite extreme fear in crypto sentiment gauges and bitcoin’s choppy trading range, some traders point to April’s historically strong performance and technical support near $60,000 as reasons for cautious optimism.
In this article
The selloff reversed a sharp global rally that had built through Tuesday on Trump’s earlier comments that the war could end within weeks and that a deal with Tehran was not a prerequisite. Asian stocks had surged 4%. S&P 500 futures had jumped. The mood was the most optimistic since the conflict began five weeks ago.
Then the speech happened. In nearly 20 minutes, Trump did not outline any shift in Iran policy, did not provide specifics on how operations would proceed, and did not signal any pathway to a ceasefire.
The Strait of Hormuz, the critical oil shipping lane that has been effectively shut since mid-March, would reopen “naturally” once hostilities subside, he said, without offering a timeline.
