Trump ' s statements in the Strait of Hormuz led to an increase in the price of Brent ' s crude oil to over $79, and triggered a sharp sale of the encrypted currency market.
Bitcoin fell by more than 3 per cent in a few hours, the encryption market lost more than $20 billion and the amount liquidated exceeded $40 million. Dealers are now waiting for United States CPI data and testimony from Federal Reserve Chairman Kevin Walsh to determine policy and market direction.
On Monday, Trump indicated that the United States was “taking over” the Strait of Hormuz and that other countries had to pay Washington to protect that important route. He also mentioned that, despite some progress at earlier meetings, recent negotiations had broken down.
He warned Iran that the United States military had carried out night strikes following the breakdown of the ceasefire, destroying vital Iranian military equipment. Trump ' s rhetoric has increased pressure on the global market, and Brent crude oil prices have risen by nearly 5 per cent against the backdrop of ongoing military conflict.
As oil prices rise and geopolitical uncertainties increase, the encrypted currency market is also affected. Bitcoin fell by more than 3 per cent in hours, with a transaction price of $62,389, which touched the low point of $62,120 in the day. Major encrypted currencies such as Taifung, XRP, BNB, and Solana have also seen a decline of 2 to 6 per cent.
According to CoinGlass, the fall caused a loss of nearly $20 billion in the encryption market and resulted in the liquidation of several positions, such as Bitcoin and the Taifung, amounting to nearly $40 million. In the past 24 hours, some 73,000 traders have been liquidated.
Market attention is now turning to the economic events in the United States this week, and traders are waiting for Tuesday's consumer price index inflation report and Federal Reserve Chairman Walsh's testimony to obtain new signals about the central bank's interest rate path.