Global markets turned sharply volatile after US President Donald Trump declared that the memorandum of understanding with Iran was effectively over, raising fears that tensions in the Middle East could escalate further.
The announcement triggered an immediate reaction across financial markets. Oil prices surged to their highest level in two weeks, while Bitcoin fell below $62,000 as investors shifted toward safer assets.
According to CNN, Trump said he considers the agreement with Iran finished after both sides failed to secure a lasting deal and resumed exchanging airstrikes across the region.
The latest escalation follows statements from Iran’s Islamic Revolutionary Guard Corps, which said it had launched attacks on American military targets in Bahrain and Kuwait in response to US strikes. The group also claimed responsibility for targeting an air base in Bahrain that hosts US forces.
Earlier, the United States carried out military operations against Iran and reinstated sanctions on Iranian oil exports, describing the move as retaliation for attacks on commercial vessels near the Strait of Hormuz.
Speaking at the NATO summit in Ankara, Turkey, Trump said he had no interest in returning to negotiations with Tehran after previous rounds of peace talks failed to produce a lasting agreement.
The geopolitical developments sent oil prices sharply higher, with USOIL climbing to around $75 per barrel for the first time since June 22. The commodity had traded below $67.50 only days earlier as markets had been pricing in expectations of easing regional tensions.
Bitcoin moved in the opposite direction. After climbing above $64,000 earlier in the day, the cryptocurrency gradually lost momentum as geopolitical uncertainty increased. Selling pressure intensified following Trump’s remarks, pushing Bitcoin below the $62,000 mark within minutes.
The contrasting moves underscore how rising geopolitical risks continue to boost demand for energy while weighing on risk sensitive assets such as cryptocurrencies.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic
