Bitcoin is already down by several grand from its local peak, and reports of a possible US strike on Iran add macro pressure. Oil has jumped to a monthly high, while US equities, led by the Nasdaq 100, have fallen again.
Reports emerged that US President Donald Trump is preparing a fresh wave of attacks against Iran during the weekend. Although BTC is already down by several grand since its local peak, the real trouble could be around the corner.
Reports point to a strike on Iran
The initial reports claimed that Trump asked Iran for permission to strike its Pickaxe Mountain nuclear site without retaliation, but Iranian authorities rejected the request. The claims come from IRIB state media correspondent Morteza Ghoroghi, and he said: "Trump's statements today point to war within the next 24 hours."
Shortly after, new reports indicated that Trump went to Mar-A-Lago for the first time since May 1. Oil prices responded with an immediate uptick, and Brent crude jumped from under $106 to a monthly peak of $110.
US stocks add to the pressure
However, oil is not the only macro risk for BTC. Earlier this week, the KOSPI and Nikkei crash led to a correction in the crypto market as well. Now US equities are under pressure, with the S&P 500 down by 2% last week.
The Nasdaq 100 had its biggest weekly decline since April 2025, dropping 3% on Friday alone. The tech sector has erased over $3 trillion in the past 10 days, more than the entire crypto market. The Kobeissi Letter argued that the index is just 2.5% away from entering a technical correction.
Source: CryptoPotato
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