Bitcoin fell below 67,000 dollars on Thursday morning, reaching around 66,770 dollars after fresh remarks from Donald Trump suggested a potential escalation in the ongoing conflict with Iran.
Speaking at the White House, Trump indicated that the United States is close to achieving its military objectives and warned of intensified action over the coming weeks. He also stated that the country does not rely on oil shipments through the Strait of Hormuz and does not plan to in the future.
According to The Kobeissi Letter, the remarks did not introduce major new developments. However, markets reacted strongly because there was no clear signal of de escalation, leading traders to price in the possibility of a prolonged conflict.
Selling Pressure Continues to Build
While crypto markets and stock futures declined, oil prices surged back above 100 dollars per barrel, increasing pressure on global economies that depend heavily on Middle Eastern energy supplies.
Despite the recent drop, Bitcoin remains within a range it has maintained over the past two months, and there has not been widespread panic selling since early February.
Data from CryptoQuant shows a shift in behavior among large investors. Wallets holding between 1,000 and 10,000 BTC have moved from accumulation to distribution. Over the past year, holdings in this category have declined by 188,000 BTC after previously increasing by more than 200,000 BTC during 2024.
This trend suggests sustained selling pressure rather than a short term shift. CryptoQuant also reported that overall spot demand for Bitcoin remains in deep contraction. The 30 day apparent demand growth stands at negative 63,000 BTC, indicating that broader market selling continues to outweigh institutional buying, even with increased activity from ETFs and firms like Strategy.
In a separate analysis, a CryptoQuant contributor known as Woominkyu noted that the amount of Bitcoin supply in profit has dropped to a multi year low, while supply in loss is rising sharply. This pattern has historically been associated with the final stages of market corrections.
Broader Crypto Market Reaction
Ethereum also declined, falling below 2,100 dollars, although it remained above the key psychological level of 2,000 dollars at the time of reporting.
Altcoins experienced even steeper losses, including BNB, Solana, Bitcoin Cash, Hyperliquid, and Canton.
A market commentator known as Bull Theory observed that assets which had previously risen on hopes of easing tensions quickly reversed course following the latest developments, highlighting how sensitive the market remains to geopolitical uncertainty.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic
