Bitcoin opened at $68,097.27 on Thursday but quickly fell to $66,172 by morning, while Ethereum opened at $2,139.63 before dropping to $2,030. Both cryptocurrencies are experiencing significant selling pressure following President Trump's announcement that the U.S. would hit Iran hard over the next two to three weeks, with the president stating they would 'finish it very fast.' The geopolitical uncertainty has suppressed demand for riskier assets like Bitcoin and Ethereum.
Bitcoin is down 3% and Ethereum has fallen 4.4% over the last 24 hours as traders remain cautious about ongoing conflict in the Middle East. The promise of a quick but fierce end to the fighting was not enough to reassure crypto traders, who are pulling back from volatile digital assets amid the uncertainty. Geopolitical conflict generally reduces appetite for risk assets, and the current Iran situation is no exception.
Despite the recent declines, Bitcoin's all-time high remains $126,198.07 set on October 6, 2025, while Ethereum's peak was $4,953.73 reached on August 24, 2025. Both cryptocurrencies continue to evolve rapidly in this dynamic market environment, with institutional adoption and regulatory developments ongoing despite short-term volatility.
