Bitcoin weakened after Trump signaled continued strikes on Iran, slipping about 2% to around $66,400 as his address suggested the military campaign was nearing its main goals but warned of more strikes in the coming weeks.

Bitcoin fell below $66,000 following aggressive rhetoric on Iran, erasing gains from the previous session and briefly dipping to about $65,696 as risk-off sentiment took hold.

In London trading, Bitcoin slid as much as 2.9% to roughly $66,300, with Ether and Solana also down as geopolitical risk resurfaced after Trump signaled tougher strikes against Iran.

The divergence between oil and Bitcoin underlines a risk-off dynamic in Middle East tensions, with investors rotating toward energy assets while crypto faced heightened risk perceptions.

Markets moved in opposite directions in real time, with crypto and oil reacting to the same geopolitical news but diverging due to different risk assessments and drivers.

Uncertainty persisted due to a wide gap between US and Iranian demands, with the prospect of renewed strikes fueling ongoing market volatility.

Overall, geopolitical tension, regulatory questions around the Clarity Act, and subdued on-chain activity suggest Bitcoin could continue trading without a clear near-term direction.

Technical takeaway notes show price rallies capped around $68,000 with resistance and liquidity constraints limiting upside despite brief moves above $67,000.

Over the past four days, crypto equities had momentum on hopes of a near-end to the conflict, but today’s session reversed that with renewed selling pressure.

Bitcoin has historically tracked equities during periods of uncertainty, showing resilience to macro developments but with limited upside after a prior March gain that ended a five-month losing streak.

US-listed spot Bitcoin ETFs posted about $174 million in net outflows on Wednesday, signaling cautious sentiment amid regulatory questions and ongoing uncertainty.

Despite the outflows, March still yielded roughly $1.1 billion in net inflows into US-listed spot Bitcoin ETFs, indicating macro sensitivity among investors.