US President Donald Trump’s national address, which warned of a tougher stance towards Iran, has sent shockwaves through the global market. The speech reversed a two-day rally that had been built on expectations that the war was ending. As a result, major cryptocurrencies like Bitcoin, Ethereum, Solana, and others fell sharply.
Bitcoin slid 2.2% to $66,609, while Ethereum dropped 2.2% to $2,056. Solana’s SOL led losses at 5.2%, extending its weekly decline to 13%. The sudden sell-off is reminiscent of the past five weeks, when traders had been hopeful about a potential ceasefire.
Despite this, some traders point to April’s historically strong performance and technical support near $60,000 as reasons for cautious optimism. However, seasonality alone may not be enough to overcome the fear and uncertainty in the market.
The market reaction is also reflected in the crypto-specific picture, which has become familiar due to its volatility. Bitcoin has bounced between roughly $60,000 and $73,000, reacting sharply to war headlines but rallying on de-escalation news. The Fear and Greed Index sits at 8, deep in extreme fear territory.
For now, the market seems to be waiting for the conflict itself to unfold before making any significant moves.
Source: https://www.coindesk.com/markets/2026/04/02/bitcoin-ether-solana-slide-further-as-trump-threatens-to-hit-iran-extremely-hard