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Trump's harsh messages on Iran hit Bitcoin: Institutional selling pressure is increasing.

Recent statements by US President Donald Trump regarding the conflict with Iran have dispelled optimism in global markets, causing Bitcoin to fall 2.6% in Asian trading to drop to $66,600. In his State of the Union address, Trump vowed to strike Iran "extremely hard," extinguishing short-lived hopes that the war would end and driving investors towards the US dollar, seen as a safe haven.

Bitcoin, which had gained earlier in the week on expectations that the war might end, gave back those gains after Trump's harsh tone. The cryptocurrency fell 1% during the speech, dropping to $66,240 as market sentiment deteriorated. Markets remain under pressure due to the uncertainty created by the operation, which Trump claims will conclude within a few weeks.
The Impact of Geopolitical Risks on the Cryptocurrency Market

In his speech, Trump stated that military objectives had largely been achieved, but also issued new threats of attack and told other countries they should take responsibility for opening the Strait of Hormuz. Following these statements, crude oil prices rose to $108 per barrel, while decreased risk appetite negatively impacted stock and cryptocurrency markets. The classic pattern seen during conflict periods was repeated; as oil rose, all assets except the dollar lost value.

While the conflict in the Middle East has continued to have a decisive impact on financial assets in recent months, investors' flight from risky assets accelerated the decline in Bitcoin prices. The renewed surge in oil prices on Tuesday, following statements suggesting the war might end, strengthened defensive positions in the markets. In this process, Bitcoin's decline, which began on Wednesday, deepened with Trump's ultimatums and uncertainties surrounding military activity in the region.
According to the data, large-scale Bitcoin holders are mitigating their market risk. A US-based mining company sold 500 BTC worth approximately $34 million, while an institutional treasury firm transferred its remaining 1,795 BTC to another exchange. The data reveals that "whale" accounts holding between 1,000 and 10,000 BTC have shifted from buying to selling positions, indicating an aggressive distribution cycle of approximately 188,000 BTC since the peak of the 2024 bull market.

The weakening demand from American investors is evident in the consistently negative Premium index, while overall demand for Bitcoin showed a deficit of approximately 63,000 units at the end of March. Institutional demand has significantly contracted, with Strategy alone accounting for 94% of total publicly traded company purchases. Despite the company's purchase of 44,377 BTC in March, the selling activity of individual and other market participants overshadows the positive impact created by institutional purchases.
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