Donald Trump Declares the Iran MoU “Is Over”: Bitcoin Plunges and Oil Soars

Trump’s declaration that the US-Iran memorandum of understanding is “over” triggered a sharp risk-off move across markets. Bitcoin fell below $62,000 after briefly trading above $64,000 earlier in the session, while oil surged to $75, its highest level since June 22, on fears that renewed Middle East conflict could disrupt supply, especially around the Strait of Hormuz. The article frames the move as a classic geopolitical shock response: BTC behaving like a risk asset and crude benefiting from supply and escalation concerns. Traders are now watching whether Bitcoin closes below $62,000, which could expose a move toward $60,000. The market reaction underscores how quickly crypto can sell off when global tensions rise, while energy prices climb on geopolitical uncertainty.