Bitcoin Slides Below $84K as Trump Signals Possible New Iran Strikes

Bitcoin and U.S. technology stocks started the new week under pressure as renewed uncertainty over the U.S.-Iran conflict weighed on risk appetite and pushed oil prices higher.

Bitcoin (BTC) fell 1.3% to around $83,324 at 03:30 UTC, while major cryptocurrencies including Ether (ETH), XRP and Solana (SOL) recorded similar losses. Nasdaq futures dropped about 0.7%, signaling a weaker start for technology stocks.

Oil prices moved in the opposite direction. West Texas Intermediate crude futures climbed nearly 1% to $93.28 a barrel, with Brent crude also advancing as traders assessed the possibility of further military action against Iran.

President Donald Trump said Sunday that he expects the conflict with Iran to end “very soon,” although he declined to rule out additional U.S. strikes before the November midterm elections. Trump said Washington would continue applying both military and economic pressure.

Iranian Foreign Minister Abbas Araghchi said Iran was fully prepared for another round of conflict. Tehran also proposed temporarily reopening the Strait of Hormuz for seven days while pausing fighting, followed by broader negotiations. Trump rejected the proposal and reiterated that Iran cannot obtain a nuclear weapon.

The geopolitical uncertainty has intensified inflation concerns and contributed to higher U.S. Treasury yields. The benchmark 10-year yield has climbed 127 basis points to 5.20%, its highest level since 2007, amid inflation worries, Federal Reserve rate-hike expectations and concerns about U.S. debt.

Despite the latest decline, Bitcoin has gained about 42% over the past three months, outperforming major assets including the Nasdaq and gold.

Vikram Subburaj, CEO of Giottus, identified $83,800-$84,000 as an important near-term Bitcoin support area, while $85,000-$85,800 represents immediate resistance.

Crypto traders are now watching U.S. economic data for the next market catalyst. PCE inflation, ISM manufacturing figures and nonfarm payrolls are scheduled this week and could influence Federal Reserve expectations, Treasury yields and Bitcoin’s next major move.