Overview
- President Trump warned he would “hit and obliterate” Iranian power plants within 48 hours if Iran does not fully reopen the Strait of Hormuz.
- Bitcoin turned lower and briefly slipped under $70,000, with weekend trading showing broad crypto losses.
- Telangana Today reported about $240 million of crypto positions were liquidated within roughly one hour after the remarks and more than $1 billion within a day.
- Analysts cited the energy chokepoint and inflation risks, with Tagus Capital flagging deteriorating sentiment and Wintermute noting Bitcoin “sits in the crossfire.”
- Reports indicate markets now price around a 50% chance of a U.S. rate hike by October as energy-driven uncertainty reshapes expectations.