Bitcoin Dips Below $62K After Trump Ends Iran MoU
Bitcoin tumbled below $62,000 on Wednesday as renewed geopolitical uncertainty rattled risk assets following President Donald Trump’s announcement regarding the U.S.-Iran Memorandum of Understanding (MoU).
The cryptocurrency, which had traded near $64,000 earlier in the session, dropped more than 3% amid broader market selling. Traders cited Trump’s declaration that the MoU with Iran “is over” as a key trigger, reigniting fears of escalated tensions in the Middle East. Oil prices surged in response, with Brent crude climbing as investors priced in potential supply disruptions, while Bitcoin and other risk assets faced heavy liquidation.
The move highlighted crypto’s continued sensitivity to geopolitical headlines, even as the asset has shown resilience in recent months. Bitcoin stabilized around the $62,000 level early in the session, with support eyed near $60,000. Market participants are now watching for any follow-up statements from the White House or Iranian officials that could clarify the trajectory of U.S.-Iran relations.
