Bitcoin Slides Below $62,000 as Trump Declares Iran Ceasefire ‘Over’
Bitcoin and the broader cryptocurrency market moved lower on Wednesday after President Donald Trump declared that the ceasefire between the United States and Iran was effectively over, reviving geopolitical concerns that had briefly eased following last month's peace agreement.
Summary:
- Bitcoin briefly fell below $62,000 as geopolitical tensions resurfaced in the Middle East.
- President Donald Trump said he considers the ceasefire with Iran “over,” despite leaving the door open to negotiations.
- The decline triggered more than $450 million in crypto liquidations, with long positions accounting for the majority.
- Risk assets weakened as investors responded to renewed uncertainty surrounding global trade routes and energy markets.
The selloff pushed Bitcoin below $62,000, while Ethereum fell beneath $1,750 and most large-cap digital assets traded lower.
Here are how the leading cryptocurrencies are performing today, according to the latest data from CoinMarketCap.
| Cryptocurrency | Price | 24h % | 7d % |
|---|---|---|---|
| Bitcoin (BTC) | $61,946.17 | -1.87% | +5.33% |
| Ethereum (ETH) | $1,735.33 | -2.05% | +9.99% |
| BNB (BNB) | $561.20 | -2.76% | +2.80% |
| XRP (XRP) | $1.07 | -4.24% | +3.13% |
| Solana (SOL) | $77.15 | -4.97% | +2.86% |
| TRON (TRX) | $0.3275 | -0.77% | +3.58% |
| Hyperliquid (HYPE) | $68.07 | -4.41% | +6.28% |
| Dogecoin (DOGE) | $0.07121 | -4.83% | -0.17% |
| UNUS SED LEO (LEO) | $9.44 | +0.28% | +2.50% |
| Zcash (ZEC) | $463.49 | +2.02% | +15.49% |
The renewed risk-off sentiment followed Trump’s remarks at the NATO summit in Turkey, where he said he viewed the ceasefire as finished despite suggesting negotiations could still continue.
Why Markets Reacted
The latest market weakness was driven less by crypto-specific developments than by a broader reassessment of geopolitical risk.
Trump’s remarks follow a sharp escalation in the Strait of Hormuz, where the U.S. has intensified its military response to repeated Iranian attacks on commercial shipping. With the previous diplomatic framework effectively collapsed and the U.S. Treasury revoking sanctions waivers, markets are pricing in a prolonged period of regional instability. This marks a decisive shift from the previous ‘de-escalation’ narrative, forcing investors to grapple with a new reality where energy supply routes and risk assets remain under constant pressure.
Asked whether the ceasefire remained in place, Trump responded: “To me, I think it’s over.” While he added that diplomatic discussions could continue, he characterized further negotiations as “a waste of time”, according to the information from Axios.
READ MORE: White House Moves to Formalize U.S. Strategic Bitcoin Reserve
The Strait of Hormuz remains one of the world’s most important energy shipping routes, making any escalation closely watched across global financial markets. Renewed uncertainty typically increases demand for defensive assets while weighing on higher-risk investments, including cryptocurrencies.
Liquidations Accelerate the Decline
While these market swings can be unsettling, it is important to distinguish between short-term noise and your personal long-term investment horizon. In periods of high geopolitical uncertainty, crypto assets often experience ‘cascading liquidations’ – where automatic stop-loss triggers create temporary, artificial selling pressure that doesn’t necessarily reflect the project’s underlying value. For the average investor, this serves as a reminder that digital assets remain highly sensitive to global news cycles. Rather than reacting to daily volatility, many market participants use these moments to reassess their risk tolerance and ensure their portfolio allocation aligns with their long-term financial goals, rather than speculative day-trading.
Market positioning amplified the move lower.
According to CoinGlass, approximately $450.4 million in leveraged positions were liquidated during the past 24 hours, with bullish traders absorbing the overwhelming majority of losses. Long liquidations totaled roughly $343.8 million, compared with about $106.7 million for short positions.
The single largest liquidation occurred on Binance in an ETHUSDT position valued at approximately $7.24 million.
Heavy long liquidations can intensify price declines as exchanges automatically close leveraged positions, creating additional selling pressure during periods of elevated volatility.
Technical Indicators Show Momentum Weakening
Bitcoin trades around $61,800 after briefly breaking below the $62,000 level.
Short-term technical indicators point to weakening momentum. The Relative Strength Index (RSI) has fallen into oversold territory near 23, while the MACD remains in bearish territory, reflecting continued downside pressure after several failed attempts to reclaim higher resistance levels.
Market sentiment has also deteriorated. The Crypto Fear & Greed Index slipped to 26, indicating growing investor caution, while the broader crypto market capitalization declined to roughly $2.13 trillion. Despite the pullback, Bitcoin continues to account for the largest share of market capitalization, underscoring its role as the sector’s primary risk benchmark.
Whether the current decline extends further will likely depend less on crypto-specific catalysts than on developments in the Middle East. If geopolitical tensions continue to escalate around the Strait of Hormuz, broader financial markets could remain under pressure, with digital assets likely to continue trading in line with overall risk sentiment rather than internal industry fundamentals.
Navigating the Volatility: A Brief Investor’s Checklist
While global events are beyond your control, how you react to them is not. If you are feeling uncertain about your portfolio during this period of geopolitical tension, consider these three steps:
- Revisit Your Risk Tolerance: If the current price swings are causing you significant stress, your current position size may be larger than your risk appetite allows. Consider whether your portfolio reflects a long-term strategy or an over-exposure to short-term speculative trades.
- Focus on Fundamentals, Not Just Headlines: While geopolitical news influences short-term price action, it does not change the core utility or development roadmap of the projects you hold. Ensure your conviction in your assets is based on their underlying technology rather than daily market sentiment.
- Stick to Your Strategy: Markets rarely move in a straight line. Many experienced investors use “Dollar-Cost Averaging” (DCA) to smooth out their entry prices over time, effectively removing the emotional pressure to “time the market” during news-driven selloffs.
The information presented in this article is intended for informational purposes only and should not be interpreted as financial, investment, or trading advice. Coinspress.com does not promote or advocate for any particular investment strategy, asset, or cryptocurrency project. Cryptocurrency markets are highly volatile and unpredictable – always perform your own research and seek guidance from a qualified financial professional before making any investment decisions.
Alexander Zdravkov
Reporter at CoinsPress
Alexander Zdravkov is a market analyst and crypto journalist with interests in economics, broader financial markets and digital assets. His journey into crypto began more than four years ago, driven by a fascination with the rapid evolution of blockchain technology and the transformative potential of decentralized finance. He began analyzing market cycles and identifying emerging trends before they reach the mainstream. He holds a degree in International Relations - a background that helped shape his broader perspective on global economics, geopolitics, and the interconnected nature of modern financial markets. Whether covering the latest developments in the crypto sector or exploring broader macroeconomic themes, Alexander focuses on giving readers context rather than simply repeating headlines. During his career, he has authored more than 10,000 articles covering cryptocurrencies, traditional finance, and global market developments. His work spans everything from Bitcoin and altcoins to macroeconomic trends influencing risk assets worldwide.
