Bitcoin price fell on Monday after fresh Iran threats added pressure across the crypto market, Asian stocks, and oil prices.
The move followed a new warning from US President Donald Trump and a direct response from Iran over the Strait of Hormuz.
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Trump said on Truth Social that the United States would “hit and obliterate” Iranian power plants, “starting with the biggest one first,” if Iran did not open the Strait of Hormuz within 48 hours.
In response, Iran said it would answer any strike on its power or water infrastructure with attacks on US and Israeli assets in the Gulf. It also threatened to fully close the Strait.
As tensions rose, Bitcoin price dropped 1.8% in the last 24 hours to $68,160. It had earlier fallen below $67,600 in late Sunday trading. The decline came as traders reduced risk across several markets.
The drop also triggered heavy Bitcoin liquidations. According to CoinGlass, the crypto market saw $336.3 million in liquidations over the last day. Out of that amount, nearly $100 million came from failed Bitcoin long positions.
Bitcoin Price Tracks Risk Assets as Crypto Market Weakens
The latest move showed that Bitcoin price traded in line with other risk assets instead of acting separately. While some market participants often describe Bitcoin as a hedge, Monday’s trading showed the opposite.
Rachael Lucas, an analyst at BTC Markets, told that crypto “is trading in lockstep with equities right now, not as a haven.” Her comment matched the broader decline in risk assets after the Iran threat and US warning.
Lucas also said sentiment remained weak. She noted that the Fear and Greed Index stood at 8, which placed it in extreme fear territory. That reading showed how sharply confidence had fallen during the latest selloff.
The crypto market therefore moved under pressure from both geopolitics and wider macro fears. Instead of drawing safe haven flows, Bitcoin followed the broader move lower.
Oil Prices Jump While Asian Stocks Slide on Iran Threat
At the same time, oil prices turned volatile as traders reacted to the risk around the Strait of Hormuz. Crude oil briefly rose above $100 per barrel in early Monday trading. It then dropped to $97.20 before climbing again to $99.30.
Meanwhile, Brent crude moved above $114 per barrel before settling below $113. Since Brent is a global benchmark, that jump added to concerns about inflation and market instability.
The pressure also spread to Asian stocks. Markets in Australia and New Zealand both fell 0.8%, while Japan dropped more than 4%. These moves showed that the Iran threat affected more than crypto alone.
As a result, the market reaction tied together Bitcoin price, oil prices, and equities. The price action reflected a broader risk-off move across regions and asset classes.
Fed Rate Hike Odds Rise as Bitcoin Support Levels Come Into View
Lucas said the next move for the crypto market will depend on the Iran conflict and the US Federal Reserve. In particular, she linked rising oil prices to a change in interest rate expectations.
She said Brent’s rise
“is feeding inflation expectations, and the probability of a Fed rate hike has jumped from zero to 12.4% in a single week.”
She added,
“That is a significant macro repricing that crypto will continue to reflect until there is clarity on both fronts.”
Those remarks showed why traders are also watching the Fed rate hike outlook. Higher Brent crude prices can increase inflation concerns. In turn, that can affect risk assets such as Bitcoin and stocks.
Lucas also pointed to key BTC support levels. She said $68,000 is the immediate level to watch. If that level fails, $65,800 becomes the next meaningful support. On the upside, she said Bitcoin price needs to reclaim $71,500 before any recovery narrative gains credibility.
She also noted that institutional demand remained present despite the selloff. According to her, Bitcoin exchange-traded funds recorded $1.43 billion in net inflows so far this month. That figure stood out even as the broader crypto market stayed under pressure.
Disclosure:This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Kriptoworld.com accepts no liability for any errors in the articles or for any financial loss resulting from incorrect information.
Tatevik Avetisyan is an editor at Kriptoworld who covers emerging crypto trends, blockchain innovation, and altcoin developments. She is passionate about breaking down complex stories for a global audience and making digital finance more accessible.
📅 Published: March 23, 2026 • 🕓 Last updated: March 23, 2026
