- Donald Trump’s latest ultimatum to Iran has sent stock markets into a tailspin, with key indices declining.
- The pressure is also felt in the crypto market. Following the price drop, $500 million worth of positions were liquidated in one day, 90% of which were longs.
- Today Bitcoin remains in the $66,000 range.
The US stock market is falling even after US President Donald Trump gave Iran 10 days to open the Strait of Hormuz or risk destroying its power plants.
On the final trading day of the week, the S&P 500 fell to 6384,51, its lowest since September 2, 2025, when it hit 6360,58. The Dow Jones Industrial Average (DJIA) fell to 45,208, its lowest since September 5, 2025, when it hit 45,211. The Nasdaq Composite Index fell to 20,957, its lowest since August 20, 2025, when it hit 20,905.
Amid the general sell-off in the US market, cryptocurrency stocks also fell significantly. Shares of Strategy, the largest corporate Bitcoin holder, fell more than 5% in a day to $126,26.
Bitmine Immersion Technologies shares fell 5% to $18,42. Robinhood Markets shares plummeted 5% to $66,53. Circle Internet Group shares also fell more than 5% to $92,62 on Friday. Leading US cryptocurrency exchange Coinbase Global shares fell 6,5% to $162,05.
Selling pressure has also increased in the crypto market, with the past 24 hours seeing positions eliminated by $500 million. Almost 90% of these liquidations were for long positions.
Prediction markets have taken a more bearish turn, with traders more likely to see Bitcoin’s next big move towards $55,000 than towards the higher $84,000 mark.
On Sunday, March 28, the price of Bitcoin fluctuated in the $66,000 range.
Risk Warning:
The information on this website is for informational and educational purposes only and does not constitute investment advice or financial recommendations. Cryptocurrencies and digital assets carry a high level of risk, including possible loss of capital. The editors are not responsible for decisions made based on the published materials. It is recommended that you conduct your own research (DYOR) before making any investment decisions.