Bitcoin fell roughly 2.3% over a 24-hour period to trade around $69,170 on Thursday, according to CoinGecko, after earlier dipping closer to $68,000 before partially recovering. Ethereum declined 4.4% to $2,070, while Solana dropped 5% to $86. The losses pushed all three assets into negative territory for the week, mirroring a broad pullback across traditional financial markets.
U.S. equities also retreated sharply on the day. The S&P 500 closed 1.7% lower, the Nasdaq fell more than 2.3%, and the Dow Jones Industrial Average tumbled 470 points, reversing relative strength seen in the prior session. The declines came as investors processed mixed signals about the prospects for a resolution to the ongoing conflict in the Middle East.
President Trump contributed to the uncertainty with a series of statements throughout the day. Before markets opened, he warned via a post that Iran’s leadership had better get serious about ending nearly four weeks of fighting or face a point of no return. During a White House cabinet meeting, he later claimed Iran’s leadership was eager to reach a deal, describing himself as the opposite of desperate in response to media reports suggesting otherwise.
After the stock market closed, Trump posted on Truth Social that peace talks were progressing well, and he extended a self-imposed deadline on targeting Iranian energy facilities. That announcement helped crypto prices turn higher in after-hours trading. Earlier in the week, Bitcoin had topped $71,000 after Trump announced a five-day pause on planned military strikes against Iran’s power plants and energy infrastructure, pending further diplomatic meetings.
White House special envoy Steve Witkoff said during the cabinet meeting that the United States had presented a 15-point framework for a peace agreement, which Pakistan conveyed to Iran. However, Iran’s foreign minister, Abbas Arghici, stated on Wednesday that there was no intention of negotiating at this time, according to the BBC. The contradictory positions have kept markets on edge.
Crypto market analyst Aurelie Barthere, principal research analyst at data firm Nansen, told Decrypt that digital asset markets are reflecting broader geopolitical uncertainty. She noted that Bitcoin remains above $63,200, the level it held when the conflict began 28 days ago, but that derivatives positioning shows persistent demand for downside hedging. On-chain data, she said, points to defensive capital behavior, with the clearest inflows going into yield-bearing stablecoins and liquid staking tokens as investors prioritize capital preservation.
Commodity markets also reflected the tension, with Brent crude oil futures jumping 5% to $107 per barrel on Thursday, paring some weekly losses, according to Trading Economics. On Myriad, a prediction market operated by Decrypt’s parent company Dastan, traders assigned a 60% probability that crude oil would spike to $120 per barrel before falling to $55, with that figure reaching as high as 78% earlier in the month. Over the past 24 hours, Myriad users also turned bearish on Bitcoin’s short-term outlook, placing a 52% chance that its next major move would be toward $55,000 rather than $84,000.
Originally reported by Decrypt.
