Cryptocurrency Market Declines Amid Trump's Statement on Iran

The cryptocurrency market experienced a significant decline on Wednesday evening, with several major cryptocurrencies falling in value. Bitcoin slid below $67,000, while Ethereum pulled back below $2,100. The downturn was largely attributed to President Donald Trump's statement that the US will continue its military campaign against Iran until objectives are fully achieved.

In his latest address, Trump warned that if a deal with the 'less radical' new regime is not made sooner, the US will strike Iran's electric generating plants. This statement led to a spike in oil prices, with West Texas Intermediate crude futures surging past $103 per barrel.

The global cryptocurrency market capitalization stood at $2.38 trillion, following an increase of 2.03% from the previous day. Nearly $350 million in crypto positions were liquidated in the past 24 hours, with bullish long traders bearing the brunt of the losses.