Bitcoin Falls to $61,500 as Trump Ends Iran Ceasefire—July 9, 2026

Bitcoin fell 2.5% to $61,500 on July 8 after President Trump declared the U.S.-Iran ceasefire “over” at the NATO summit in Ankara, Turkey. Oil prices jumped 5.4% as both sides threatened to close the Strait of Hormuz, a critical global energy route. The broader crypto market sold off alongside equities, with Ethereum down 2.6% and stablecoin liquidity weakening amid the risk-off sentiment.

Why Trump’s Iran comments triggered a crypto selloff

Trump told reporters at the NATO summit: “To me, I think it’s over. I don’t want to deal with them anymore.” He later threatened to “hit them hard tonight,” following U.S. strikes on Iran on Tuesday in retaliation for attacks on three commercial vessels in the Strait of Hormuz. Bitcoin traders immediately sold, viewing geopolitical risk as a headwind for speculative assets.

Oil futures surged as investors braced for supply disruptions. U.S. WTI crude passed $75 per barrel, its highest level since June 22. Brent crude settled up 5.43% at $78.19. NATO Secretary General Mark Rutte said America’s strikes were “absolutely necessary” given Iran’s ceasefire violations.

Crypto market weakness spreads beyond Bitcoin

Ethereum fell 2.6% to $1,733, while Solana dropped 5.4% to $77 and Dogecoin slid sharply. On Stocktwits, Bitcoin and Ethereum were the top trending tokens. Crypto-related stocks also declined: MicroStrategy (MSTR) fell 3.6% and Coinbase (COIN) dipped 2.5%, though Robinhood (HOOD) and Galaxy Digital (GLXY) posted small gains.

Bitcoin remained near the day’s low at $62,100, down 2.4% over 24 hours. Analyst Michael van de Poppe predicted a retest of $61,000 as a “crucial” support level, expecting a reversal within 1–2 days if talks resume.

Broader market impact and Fed rate expectations

The Dow Jones fell 576.76 points (1.09%) to 52,348.39, while the S&P 500 dropped 0.28% to 7,482.71. The Nasdaq managed a 0.2% gain as Nvidia advanced 3.65%. Indian markets bore the brunt of the risk-off: the Sensex plunged over 1,500 points and the Nifty slid over 450 points.

CME Group’s FedWatch Tool showed increasing odds of an interest-rate hike at the Fed’s September meeting, though July rates were expected to hold. Prediction market Kalshi put odds of a 2026 rate hike at 55%. Bond yields extended their rise as oil prices spiked, with the Nasdaq returning to flat after being down 1% earlier in the session.

Retail traders brace for deeper Bitcoin losses

Retail traders on Stocktwits are expecting Bitcoin to test lower levels, with some forecasting a drop to $41,000. Sentiment remains bullish on platforms tracking the market, but traders blame the uncertainty around a potential U.S.-Iran conflict for the current weakness. Analyst Ted Pillows warned that if Ethereum closes below $1,750 support, a deeper correction could follow.

Final Thoughts

Bitcoin’s 2.5% drop reflects a classic risk-off move as geopolitical tension and oil volatility spook investors. With support at $61,000 and potential downside to $41,000 cited by retail traders, the crypto market’s next move hinges on whether Trump and Iran return to negotiations or escalate further.

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The content shared by Meyka AI PTY LTD is solely for research and informational purposes.  Meyka is not a financial advisory service, and the information provided should not be considered investment or trading advice.