Bitcoin Price Raises To $68K As Trump Threatens To ‘Destroy’ Iran’s Energy Plants

The total number of positions that have changed has increased to $240 million in just 1 hour.

After a stable Saturday, when BTC remained above $ 70,000, the price movement of the asset changed significantly during the night, falling to $ 68,000 for the first time since March 9.

This sudden decline came as US President Trump issued a serious threat to Iran if it fails to reopen the Strait of Hormuz.

Late War Developments

POTUS has long contradicted himself within hours, and the past day or so has proven this narrative once again, at least according to recent reports. Initially, Axios reported that Trump was looking for a ‘point of contact’ in the Iranian regime to start negotiations to end the war.

However, later on, the President himself published a direct threat against Iran and its most important infrastructure if it fails to reopen the Strait of Hormuz within 48 hours.

“If Iran DOES FULLY OPEN, WITHOUT THREAT, the Strait of Hormuz, within 48 HOURS from this exact point, the United States of America will strike and destroy their POWER VACUUMS, STARTING VERY BIG FIRST!”

Commentators at The Kobeissi Letter summarized Trump’s reported change of heart just 36 hours ago.

President Trump in the last 36 hours:

Friday, 3:40 PM ET: “I don’t want to make a deal to end the war with Iran.”

Friday, 5:15 PM ET: The US is “considering ending the war” with Iran.

Today, 2:00 PM ET: Axios reports that Trump is planning “peace talks.”

Now: “If Iran does not open…

— The Kobeissi Letter (@KobeissiLetter) March 22, 2026

BTC Price Dumps

Bitcoin has reacted in an instant to the most significant developments during the Middle East war, and Trump’s latest big warning was no exception. The stock was above $70,000 yesterday and challenged $71,000 at one point, before it was broken down by several large amounts.

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On other exchanges, it even dipped below $68,000, while on Bitstamp and Binance, it dropped as low as $68,200. Still, both price tags could represent a three-week low.

Altcoins followed suit, with ETH falling below $2,100 and XRP below $1.40 before the market made a small comeback. However, the total number of active positions used was over $240 million in just one hour during the price drop.

NEWS: More than 240 million worth of crypto positions were closed in 60 minutes after President Trump threatened to “wipe out” Iran’s energy industries.

— The Kobeissi Letter (@KobeissiLetter) March 22, 2026