PANews, March 22: According to CoinDesk, following Trump’s 48-hour ultimatum to Iran threatening strikes on power infrastructure, Bitcoin sharply declined over the weekend, falling below the $69,200 mark, with a 2.2% drop in 24 hours and a weekly decline expanding to 3.1%. Affected by negative market sentiment, major crypto assets also weakened: Ethereum dropped to approximately $2,114, while XRP, BNB, Solana, Dogecoin, and others recorded varying degrees of decline. This week, the Federal Reserve held interest rates steady; its dovish stance should have supported risk assets. However, persistent reports of war risks discouraged traders from making large directional bets. Analysts suggest that if Iran fails to restore passage through the Strait of Hormuz within the deadline, the conflict could escalate further to target energy infrastructure. Combined with disruptions to approximately 20% of global oil and natural gas transportation, this could continue to suppress risk asset performance.
Trump's 48-Hour Ultimatum to Iran Drags Major Cryptocurrencies Lower
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Summary
Trump’s 48-hour ultimatum to Iran sent shockwaves through the crypto market, pushing Bitcoin below $69,200 with a 2.2% drop over 24 hours and a 3.1% weekly decline. Ethereum fell to $2,114, while XRP, BNB, Solana, and Dogecoin also declined. The Fear & Greed Index has shifted toward fear as traders avoid large positions amid rising geopolitical risks. Analysts warn that if Iran does not restore passage through the Strait of Hormuz, the conflict could disrupt 20% of global oil transport, further pressuring altcoins to watch.
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