Trump Iran ceasefire remarks ended the truce on Wednesday. Speaking at the NATO Leaders Summit in Ankara, Trump said: “I think the ceasefire with Iran is over. They are liars. From my point of view, wasting time with them is a complete waste of time.”
Consequently, geopolitical tensions escalated, and Bitcoin fell below $62,000. Meanwhile, oil prices rose sharply.
Why Trump Iran ceasefire remarks hurt Bitcoin
Following Trump’s statements, increased geopolitical tensions caused Bitcoin to fall below $62,000. Additionally, oil prices surged. Specifically, Brent crude oil, which traded at $71 yesterday, rose to $76 and then surpassed $78 per barrel.
In contrast, gold fell below the $4,100 level per ounce. This shows that risk-off sentiment dominated markets after the president’s comments.
Türkiye hosted the summit for the first time in 22 years. Trump held a press conference alongside NATO Secretary General Mark Rutte. He also addressed a journalist’s question about Iran directly.
Trump also targets Spain and comments on Israel
Besides Iran, Trump also spoke about Spain. He stated that he was considering cutting off all trade with them. Specifically, he said, “Spain is a bad NATO partner. They neither participate nor pay. I’m thinking of cutting off all trade. We don’t need to trade with them anymore.”
Finally, answering a question about his relationship with Israel, Trump said, “I like both Erdoğan and Netanyahu. Türkiye has a very new and powerful army. I told Netanyahu that. If I weren’t here, he might have joined the war with Iran. I told Netanyahu that he remained neutral because I was there.”
