Crude oil climbed back above $100 a barrel and Bitcoin slipped as US President Donald Trump used a White House address to say the military campaign in Iran was close to wrapping up, while also warning that more strikes could come in the next two to three weeks.
Markets Move First
Bitcoin fell about 2% during the speech, and the price was later reported at $66,400, down from where it started the address. Oil moved the other way, with crude rising to $103.55 a barrel after easing earlier in the week.
The reaction fits a familiar pattern. As conflict risk rises in the Middle East, traders often move away from assets seen as risky and into markets tied more directly to energy and supply shocks. In this case, crypto and oil were moving in opposite directions almost in real time.
Trump told viewers that the US military was close to completing what he called its main goals. He also said Iran’s nuclear, naval and drone capabilities had been badly damaged, along with missile and weapons production sites.
The speech did not calm markets for long. Oil had already been under pressure earlier in the week after Trump suggested the fighting could wind down within weeks, but the latest remarks pushed prices back up and revived concern that the conflict may last longer than hoped.
Ceasefire Talk Meets New Threats
Trump also said talks were continuing, but he paired that message with a harder line. According to the address, the US is demanding that Iran give up its nuclear program, open commercial shipping routes, and stop backing regional proxy groups.
Iran’s demands were far broader. Reports note that Tehran is seeking a permanent end to the war, compensation for damage, and an end to the US military presence in the region.
That gap between the two sides left little room for confidence. The White House speech suggested progress, but the warning of fresh strikes over the next few weeks kept the pressure on traders and helped explain why both oil and crypto moved sharply during the address.
Strait Of Hormuz Remains In Focus
The conflict has already rattled energy markets before. Tensions intensified in February after US and Israeli strikes on Iran, and Iran answered by blocking the Strait of Hormuz, a key route for global oil shipments.
Trump said the blockade would lift naturally once the conflict ends, arguing that Iran would need to sell oil to rebuild its economy. He also said gas prices would come back down and stock prices would rise again.
Featured image from jiss.org.il, chart from TradingView
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