Iran War Fears Drag Bitcoin Lower After Trump Declares Ceasefire Is ‘Over’

Solana and Dogecoin posted the largest losses among the top 10 cryptocurrencies by market capitalization.

• Bitcoin’s price fell below $62,000 after President Donald Trump said the U.S.-Iran ceasefire was "over," triggering a broad selloff across cryptocurrency markets.
• Ethereum’s price also slumped, although retail sentiment on Stocktwits remained in 'bullish' territory for both Bitcoin and Ethereum despite the pullback.
• Crypto analyst Michael van de Poppe said Ethereum remains in an uptrend and continues to offer a more attractive setup than Bitcoin, while analyst Ted Pillows warned of further downside if Ethereum loses key support.

Bitcoin (BTC) slumped below $62,000 as the broader cryptocurrency market sold off after President Donald Trump said at the NATO summit that the U.S.-Iran ceasefire is "over".

"To me, I think it’s over. I don’t want to deal with them anymore. They're scum,” he said. “As far as I’m concerned, it’s just a waste of time dealing with them. They’re liars, they’re cheats, they’re sick people.”

Bitcoin’s price plunged over 2% in the last 24 hours to around $61,800, with other major cryptocurrencies posting even steeper losses. On Stocktwits, Bitcoin, along with Ethereum (ETH), was the top trending token amid the sell-off.

Leading altcoin Ethereum’s price moved 2.6% lower to $1,733. Platform data showed retail sentiment for both cryptocurrencies remained in ‘bullish’ territory over the past day, accompanied by ‘normal’ levels of chatter. 

Analysts Split On Ethereum's Near-Term Outlook

According to MN Fund founder and crypto analyst Michael van de Poppe, Ethereum is a better investment than Bitcoin in the current market setup. “It’s resilient, and it’s in an uptrend for the first time in over a year,” he wrote on X. “I’m only expecting to see a correction on Ethereum take place when there’s a strong, volatile move upwards in Bitcoin”

However, analyst Ted Pillows noted that if Ethereum closes the day below the support zone of $1,750, there could be a deeper correction ahead.

Retail Traders Blame Iran War Uncertainty

Retail traders on Stocktwits are expecting Bitcoin’s price to drop lower, with one user forecasting that the next test could be at around $41,000.

Many investors on the platform are blaming the uncertainty around the U.S.-Iran war for the sell-off and expecting it to worsen in the coming days. 

Solana, Dogecoin Lead Market Losses

Solana (SOL) and Dogecoin (DOGE) were the worst hit among the top 10 cryptocurrencies by market capitalization, followed by Ripple’s XRP (XRP) and Binance Coin (BNB)

Solana’s price fell 5.4% in the last 24 hours to $77, and Dogecoin’s price dropped 5.1% to around $0.07. XRP’s price was down 4.5%, trading at around $1.08, while BNB’s price slipped 3.1% to around $560.

The overall cryptocurrency market saw nearly $450 million liquidated in the last 24 hours, with $346 million accounting for long bets that were forced to unwind. The split between Bitcoin and Ethereum was nearly even, with nearly $100 million leveraged trades on both tokens going underwater.

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