Bitcoin weakened by high rates and a tense international climate

The war in Iran acts like a slow wave that cracks the certainties of the financial markets. First, Donald Trump’s stance changes, oscillating between threat and calculated strategic pause. Then, stock markets sway, caught by a persistent uncertainty that settles durably. Now, the crypto market absorbs this diffuse shock. And in this unstable climate, bitcoin moves forward without a clear course, exposed to every geopolitical jolt.

Rising rates: the slow poison that is eating away bitcoin

First, one must look beyond the military strikes to understand the current weakness of bitcoin. The real shock comes from the bond market, discreet but terribly effective. Then, US yields reach about 4.42%, reflecting an environment where money becomes more expensive.

Then, the mechanism gradually sets in, almost silently, but with visible effects on the crypto market. Capital leaves risky assets, and bitcoin retreats to around 68,900 dollars. However, this decline is not an isolated accident; it is part of a global tightening.

Next, oil remains high amid geopolitical tension, fueling persistent inflation that delays any monetary easing. This pressure acts like a clamp on crypto investors, limiting their room to maneuver.

Finally, bitcoin does not crash suddenly but erodes slowly, as if worn down by a hostile macro environment. And in this context, each rate hike acts as a brutal reminder: easy liquidity is moving away for good.

War in Iran: a deceptive pause that keeps the fog

Next, the geopolitical scene becomes an unstable theater where each announcement reinforces uncertainty rather than dissipates it. Donald Trump announces a ten-day pause, but this gesture looks more like a strategic suspension than a real appeasement.

According to the request of the Iranian government, let this statement serve to indicate that I am suspending the period of destruction of energy facilities for 10 days, until Monday, April 6, 2026, at 8 PM Eastern Time. Discussions are ongoing and, despite erroneous statements from the Fake News media and others, they are going very well. Thank you for your attention to this matter! — .

Source: Truth Social

Then, the market quickly understands that this pause resolves nothing and extends a dangerous strategic blur. The Strait of Hormuz remains tense, and nearly 20% of the world’s oil transits there.

Next, contradictory signals accumulate, between mentioned negotiations and maintained threats, fueling persistent instability. The crypto market becomes extremely sensitive to these inconsistencies.

Finally, this war does not just destroy infrastructures. It mainly weakens expectations, and that is exactly where bitcoin becomes vulnerable.

The crypto market retreats: caution, hedging and capital preserved

Then, the crypto market adopts a defensive stance towards an environment that has become unpredictable. Bitcoin oscillates around 69,000 dollars, unable to impose a clear direction.

However, the most revealing signals are found in the invisible flows of the market. Investors now favor rewarding stablecoins and liquid staking, seeking yield without direct exposure.

On the blockchain, capital adopts a defensive behavior. The clearest flows head towards yield-generating stablecoins and liquid staking tokens, suggesting that investors prioritize carry and capital preservation in an uncertain macroeconomic context.

Aurelie Barthere, lead analyst at Nansen

Next, traditional markets also retreat, confirming a global risk reduction dynamic. The crypto market does not collapse but gradually retreats.

Key landmarks in this phase of tension

• The bitcoin price trades around 68,795 dollars at the time of writing;
• US yields currently reach about 4.42%;
• Oil remains high under persistent geopolitical pressure;
• Nearly 20% of the world’s oil passes through the Strait of Hormuz;
• Crypto flows head towards defensive and rewarded assets.

Finally, bitcoin still holds, but it now moves on unstable ground, where every signal counts.

Caution remains necessary, as another factor could quickly amplify current market tensions. Indeed, about 1.4 billion dollars of bitcoin options expire this Friday. This technical event could increase short-term volatility. In this already fragile environment, the slightest imbalance could cause more violent movements than expected.