The broader bearish trend that began after Thursday evening’s rejection at $82,000 intensified over the past 12 hours, pushing BTC to a new multi-week low of $76,650 on Bitstamp.
The most immediate catalyst for this drop was renewed threats from US President Donald Trump toward Iran. Even reports of a US-China deal were unable to support Bitcoin.
Escalating Threats
Despite a ceasefire that was extended several weeks ago, meaningful progress toward a lasting peace agreement has been minimal. The Trump administration has rejected multiple proposals from Iran, with one recent offer described as “totally unacceptable.”
Following his trip to Beijing, Trump returned his attention to the conflict and warned that the ceasefire is precarious. In a post on Truth Social, he urged Iran to act quickly, stating that their “clock is ticking,” and warning they should “better get moving, FAST, or there won’t be anything left of them,” adding that “TIME IS OF THE ESSENCE.”
This message came hours after reports that Trump met with Israeli Prime Minister Benjamin Netanyahu on Sunday to discuss developments in the war.
As noted, BTC fell to just under $76,700 for the first time since the start of the month following a subdued Sunday. Liquidations surged to more than $660 million over 24 hours, with over $610 million occurring within a one- to two-hour window when Bitcoin and other markets plunged after the president’s statement. As a result, Bitcoin is down by more than $5,000 from Thursday evening’s peak at $82,000.
US-China Statements and Market Impact
After Trump’s visit to Beijing concluded, US and Chinese statements about any agreements differed. One report, cited by The Kobeissi Letter, claimed China agreed to several US requests, including an initial purchase of 200 Boeing aircraft for Chinese carriers and annual purchases of at least $17 billion in US agricultural products for 2026, 2027, and 2028, among other commitments.
Despite these reports, the news did not provide meaningful support to the crypto market. Traders should still expect increased volatility later in the week as a number of macro and market-specific factors unfold.
Market participants are closely watching geopolitical developments and policy announcements, as these continue to exert strong influence on risk appetite and crypto price action.