Trump's Threat to Iran Triggers Crypto Market Crash

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: 3 hours ago

BTC-3.1%

ETH-4.498%

XRP-3.245%

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Market Sentiment Deterioration: Following Trump's announcement of a final phase in U.S. military action against Iran, the crypto market dropped 2.6%, bringing its total market cap to $2.37 trillion, indicating heightened investor anxiety about future volatility.
Bitcoin Plummets: Bitcoin fell over 4% to $66,250, nearing the critical $65,000 support level, which, if breached, could trigger further sell-offs and undermine market confidence significantly.
Liquidation Surge: As crypto prices declined, over $420 million in liquidations occurred, with $255 million from long positions, exacerbating market sell pressure, particularly with Bitcoin and Ethereum each seeing around $64 million in long liquidations.
Fear and Greed Index Decline: The Crypto Fear and Greed Index dropped 5 points to 27, reflecting increasing panic among investors, who expect heightened volatility, potentially leading to further outflows from risk assets.

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Technical Analysis for BTC

Technical Sentiment Analysis for Bitcoin (BTC). As of , Bitcoin (BTC) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 1 indicators are flashing buy, while 4 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for BTC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.

Support, Resistance & Moving Averages. From a structural perspective, BTC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Bitcoin (BTC) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	57570.425	61285.212	64596.515	68311.302	71622.605	75337.392	78648.695
Fibonacci	61285.212	63969.179	65627.336	68311.302	70995.269	72653.426	75337.392

About BTC

Bitcoin is a decentralized cryptocurrency originally described in a 2008 whitepaper by a person, or group of people, using the alias Satoshi Nakamoto. It was launched soon after, in January 2009.Bitcoin is a peer-to-peer online currency, meaning that all transactions happen directly between equal, independent network participants, without the need for any intermediary to permit or facilitate them. Bitcoin was created, according to Nakamoto’s own words, to allow “online payments to be sent directly from one party to another without going through a financial institution.”Some concepts for a similar type of a decentralized electronic currency precede BTC, but Bitcoin holds the distinction of being the first-ever cryptocurrency to come into actual use.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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