The world’s largest cryptocurrency, Bitcoin has slipped to $67,798.20, down 2.26% over the past 24 hours, amid broader volatility in the markets following a series of attacks by the United States on Iran’s infrastructure. The overall crypto market cap is at $2.33 trillion; and trading volume at $84.39 billion, as per CoinMarketCap data.
Bitcoin market capitalisation is also down 2.2% to $1.35 trillion, with trading volume up 5.49% to $33.91 billion over the past 24 hours, according to data on CoinMarketCap. Notably, it erased gains from the previous day where the token topped $70,000 level for the first time since March.
Notably, US President Donald Trump spiked concern with the warning that “a whole civilization will die tonight” as his deadline for Iran to reach a deal or open the Strait of Hormuz nears its end.
Further, Ethereum, the second-largest token, is trading at $2,074.83, down 3.68% over the past 24 hours, with market cap down 3.64% at $250.41 billion and trading volume at $16.91 billion, CoinMarketCap data showed.
Trump deadline spooks markets, cryptos ‘remain in suspended animation’
Trump’s threat to bomb civilian infrastructure in Iran till the Strait of Hormuz is opened triggered the largest-sever disruption to the global oil market. Chris Beauchamp, chief market analyst at investing and trading platform IG told Bloomberg, “Cryptocurrencies remain in suspended animation, moving sideways over the last month. While equities seem content to ignore the looming energy crisis, at least until they do decide to focus on it, and oil prices continue to climb thanks to the ongoing Straits closure, cryptocurrencies seem to be just left to drift.”
Oil has surged since the war started on 29 February, with Brent crude up 50% from the start of the conflict, while gold is down by over 10%. Comparatively, Bitcoin has been more resilient, with signs that institutional selling pressure is easing, the report added.
What do experts feel about Bitcoin outlook?
On 6 April, US-listed spot Bitcoin ETFs attracted $471.3 million net inflows for a total of $22.3 million last week; compared to around $300 million outflows the previous week. In the month of March, Bitcoin ETFs saw some $1.3 billion net inflows — a stabilization after the four straight months of net outflows that began in November 2025, it added.
Alex Kuptsikevich, chief market analyst at FxPro noted, “If we take a step back to see the bigger picture, it is easy to see that Bitcoin is doing relatively well. It is trading within a fairly narrow range and above the levels seen in early March, unlike stock indices and gold.”
Bitcoin sentiment “remains bearish on the short-to-medium time frame,” said Rachael Lucas, an analyst at BTC Markets. The market is in wait-and-see mode, she added, with “bulls lacking sufficient conviction to sustain breakouts and bears unable to force a decisive breakdown.”
Bitcoin has been stuck in a range between roughly $60,000 and $75,000 since the conflict in Iran began in late February, at one point jumping to a high of nearly $76,000 before tumbling. For much of the past two weeks, the token traded below $70,000. Now traders have eyes on an end to the war and new crypto legislation in the US as potentially pushing digital assets higher.
“The bull scenario hinges on two catalysts: A confirmed and sustained US-Iran ceasefire that brings oil below $100, and passage of the US Clarity Act, expected in late April, which institutional market participants are closely watching as a regulatory unlock,” Lucas said.
(With inputs from Bloomberg)
