Crypto markets under pressure as Trump ups rhetoric towards Iran

After topping $70,000 on Monday, bitcoin BTC$71,358.54 has pulled back to the $68,000 area as time draws near for President Trump’s Tuesday deadline for Iran to reopen the Strait of Hormuz.

“A whole civilization will die tonight, never to be brought back again,” said Trump in a Tuesday morning Truth Social Post. “I don’t want that to happen, but it probably will,” he continued. “We will find out tonight, one of the most important moments in the long and complex history of the world.”

Alongside declines in crypto, U.S. stock index futures are poised to open lower, led by the Nasdaq 100’s 0.65% decline. WTI crude oil is higher by 1.7% to $114.22 per barrel.

Tempering declines across markets were comments from vice president J.D. Vance, who — while reiterating the 8 pm ET deadline — said the military objectives of the Iran war have been completed.