President Donald Trump’s fluctuating statements on the Iran conflict have stirred significant geopolitical and economic unease. This turmoil led Bitcoin to drop beneath the $70,000 mark on Sunday.
Data from BeInCrypto indicates that BTC declined by approximately 2.3% within a 24-hour period, settling at $68,938 at the time of reporting.
Massive $322 Million Liquidations Hit Crypto Markets
The downward momentum in Bitcoin’s price triggered liquidations totaling around $322 million across various digital assets, primarily targeting traders with excessive leverage.
According to Coinglass statistics, long position holders anticipating a price rise suffered losses amounting to $266 million. Conversely, short sellers betting against the market accounted for roughly $56 million of these liquidations.
Simultaneously, global energy markets experienced a sharp surge. Brent crude oil prices escalated to $112.19 per barrel—a notable increase of 36% over just one month.
This jump followed Iran’s decision to close off the Strait of Hormuz—a vital passageway responsible for about one-fifth of worldwide oil transportation—in retaliation against a joint military operation launched by the US and Israel earlier this year in February.
Amid these developments, President Trump delivered mixed messages over a span of 36 hours that heightened investor concerns.
On Friday afternoon he firmly dismissed any notion of ceasefire talks; mere hours later he suggested America was “considering winding down” its involvement in hostilities with Iran;
Then by Sunday came another shift: Trump warned that if Iran failed to reopen shipping lanes through Hormuz within two days they would face destruction targeting their power infrastructure.
President Trump’s statements over recent days:
Friday at 3:40 PM ET: “I don't want to do a ceasefire with Iran.”
Friday at 5:15 PM ET: The US is “considering winding down” its war efforts.
Sunday at 2:00 PM ET (Axios report): Plans underway for “peace talks.”
Currently: “if Iran doesn’t open…”
— The Kobeissi Letter (@KobeissiLetter) March 22, 2026
This rapid sequence has reignited Wall Street’s apprehensions regarding persistent global inflationary pressures. Rising energy prices often compel central banks toward prolonged high interest rates—conditions which generally reduce liquidity available for risk-sensitive investments like cryptocurrencies.
An important observation is how Bitcoin continues grappling with its role amid market uncertainty:
Although advocates promote it as “digital gold,” an independent safe haven asset designed specifically as protection during geopolitical upheavals—the weekend’s performance revealed otherwise;
The cryptocurrency moved largely alongside conventional risk assets instead of serving as refuge amid Middle Eastern tensions—falling sharply when war rhetoric intensified and inflation worries resurfaced once again.
The article titled “Trump’s Shifting Rhetoric on Iran Shakes Markets,” highlighting Bitcoin slipping below seventy thousand dollars originally appeared on BeInCrypto.