Bitcoin Plunges as Trump Threatens Iran with 'Extremely Hard' Measures

Global markets experienced a downturn following US President Trump's address to the nation on Wednesday. In the speech, Trump reiterated his intention to take 'extremely hard' measures against Iran over the next two to three weeks.

The announcement had a significant impact on cryptocurrency prices, with Bitcoin leading the decline. The digital currency dropped by 2.2% to $66,609, erasing Tuesday's gains. This move was part of a broader market correction, as every major token in the top 10 experienced a decline in value.

Ether fell 2.2% to $2,056, while BNB and XRP lost 3.9% and 2.5%, respectively. Solana's SOL led losses with a drop of 5.2%, extending its weekly decline to 13%. The market reaction was in line with expectations, as investors had anticipated a de-escalation of tensions following Trump's earlier comments.