Analysis: Trump issued a 48-hour ultimatum to Iran, mainstream cryptocurrencies weakened simultaneously

According to CoinDesk, influenced by Trump's 48-hour ultimatum to Iran and threats to strike power facilities, Bitcoin quickly fell back over the weekend, dropping below the $69,200 mark, with a 24-hour decline of about 2.2%, and a weekly decline expanding to 3.1%. Affected by market sentiment, mainstream crypto assets weakened simultaneously: Ethereum fell to about $2,114, while XRP, BNB, Solana, Dogecoin, and others recorded varying degrees of decline.

This week, the Federal Reserve kept interest rates unchanged, and its dovish stance should have supported risk assets, but the ongoing war risk news has made traders hesitant to make significant unilateral bets. Analysts believe that if Iran does not restore passage through the Strait of Hormuz by the deadline, the conflict may escalate further to the level of energy infrastructure, compounded by disruptions to about 20% of global oil and gas transportation, which may continue to suppress the performance of risk assets.