Bitcoin has sharply depreciated, falling below the significant mark of $69,000 amid U.S. President Donald Trump’s ultimatum to Iran regarding the Strait of Hormuz. Over the past 24 hours, the price of the leading cryptocurrency has decreased by 2.7%, with a weekly decline of 3.6%, nearly negating the previous increase observed amid hopes for de-escalation in the region.
This is reported by Finway
U.S. Ultimatum and Its Impact on the Cryptocurrency Market
On March 22, 2026, President Trump issued a 48-hour ultimatum to Iran, demanding that the Strait of Hormuz be fully opened for shipping. He threatened to strike the country’s energy infrastructure if this demand was not met. This statement triggered an immediate reaction in financial markets, particularly in the cryptocurrency sector, where Bitcoin fell to $68,228.
“If Iran does not OPEN COMPLETELY, WITHOUT THREATS, the Strait of Hormuz within 48 HOURS from this moment, the United States will strike and destroy their various POWER PLANTS, STARTING WITH THE LARGEST…” – President DONALD J. TRUMP.
At the time of writing, Bitcoin is trading around $68,600, according to TradingView data. The price dynamics show increased volatility amid geopolitical tensions (see BTC/USDT chart on the Binance exchange).
On March 20, 2026, Trump hinted at a possible withdrawal from military operations, noting that most tasks for the military had been completed. However, the very next day, the rhetoric changed sharply, causing a new surge of uncertainty among investors. The Strait of Hormuz is critical to the global energy market: approximately 20% of the world’s oil and gas supplies are transported through it, and any restrictions in this region heighten concerns about the stability of global supplies.
Mass Liquidations and Decline of Other Crypto Assets
In the past 24 hours, liquidations in the crypto market amounted to nearly $300 million, affecting over 100,000 traders. About $272 million, or 90% of this amount, was attributed to long positions. In the Bitcoin segment, approximately $126 million was liquidated, while the Ethereum market saw $103 million in liquidations. The largest single liquidation was recorded on the OKX exchange, totaling $10 million.
The decline also affected other key crypto assets: Ethereum fell by 3.3%, XRP by 2.9%, BNB by 1.2%, and Solana by 3.1%. The total market capitalization of cryptocurrencies decreased by 2.47%.
Experts note that the market was oversaturated with long positions after eight days of continuous growth, making it particularly vulnerable to geopolitical shocks and news events.
The deadline for President Trump’s ultimatum expires on the evening of March 23. If the situation escalates, analysts do not rule out new waves of volatility in the crypto market.
Against this backdrop, support from U.S. monetary policy has taken a back seat. Although the Federal Reserve kept interest rates unchanged, it is the geopolitical tension that currently remains the primary pressure factor on cryptocurrencies.
It was also previously reported that one of the Bitcoin whales with 2100 BTC has resumed activity after nearly 14 years of inactivity.