Daily Market Update: Trump’s Iran Speech Wipes Out Two-Day Rally in Crypto and Stocks

TLDR

• Bitcoin dropped 2.2% to $66,609 after Trump’s primetime address signaled no end to the Iran war
• Solana led crypto losses, falling 5.2%, with all top 10 tokens in the red
• S&P 500, Nasdaq, and Dow futures all fell more than 1% following the speech
• Brent crude surged 5% to above $106 a barrel on no signs of de-escalation
• The crypto Fear and Greed Index sits at 8, deep in “extreme fear” territory

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Bitcoin, major cryptocurrencies, and U.S. stock futures all fell after President Trump’s national address on Wednesday night offered no clear end to the ongoing U.S.-Israeli war with Iran.

NOW – Trump on Iran: “We’re going to hit them extremely hard over the next 2-3 weeks. We’re going to bring them back to the stone ages, where they belong!” pic.twitter.com/knSmNB9OQk

— Disclose.tv (@disclosetv) April 2, 2026

Trump told the nation that U.S. forces would hit Iran “extremely hard” over the next two to three weeks. That was not what markets were hoping to hear.

Going into the speech, investors had been cautiously optimistic. Trump had earlier suggested the war could end within weeks and that a deal with Tehran was not required first. Asian stocks had surged 4%. S&P 500 futures jumped. The mood was the most positive in five weeks.

The speech changed all of that. In nearly 20 minutes, Trump offered no shift in Iran policy, no timeline for a ceasefire, and no specifics on how military operations would proceed.

Bitcoin fell 2.2% to $66,609, giving back the gains it had made the day before. Ether dropped 2.2% to $2,056. BNB fell 3.9% to $591. XRP lost 2.5% to $1.31.

Bitcoin (BTC) Price

Solana led the losses across the top 10 cryptocurrencies, falling 5.2% and extending its weekly decline to 13%.

Stock Futures Also Hit Hard

U.S. equity futures followed crypto lower. S&P 500 futures dropped 1.3%. Nasdaq 100 futures fell 1.6%. Dow Jones futures were down 1.2%.

E-Mini S&P 500 Jun 26 (ES=F)

European and Asian equity markets also declined. Asian shares fell 2.1% after the speech. The U.S. dollar strengthened. Treasury bonds fell on inflation concerns.

Brent crude jumped 5% to above $106 a barrel. Oil has now risen roughly 40% since the war began in late February. The Strait of Hormuz, a critical oil shipping lane shut since mid-March, remains closed. Trump said it would reopen “naturally” once hostilities end, but gave no timeline.

Bitcoin’s Five-Week Pattern Continues

Bitcoin has now spent five weeks trading between roughly $60,000 and $73,000. It sells off on every escalation headline and rallies on every de-escalation headline.

The Fear and Greed Index is currently at 8, deep in extreme fear territory. It has stayed between 8 and 14 for the past month.

Some traders point to seasonal data for hope. April has historically been one of bitcoin’s strongest months, finishing green 10 out of 15 years with an average gain of 20.9%.

Bitcoin also bounced off its two-month uptrend support near $60,000 last week and is trying to reclaim its 50-day moving average.

Thursday is the last trading day of the holiday-shortened week. Good Friday closes markets. Investors will also receive weekly jobless claims data Thursday morning and the March jobs report on Friday.

Trump confirmed that Iran’s president had approached the U.S. about a ceasefire, but said any agreement would depend on the Strait of Hormuz being reopened.

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