Bitcoin, XRP, and Stellar have fallen as geopolitical tensions between the United States and Iran added pressure to an already weakened crypto market. At press time, Bitcoin was trading near
Bitcoin, XRP, and Stellar have fallen as geopolitical tensions between the United States and Iran added pressure to an already weakened crypto market. At press time, Bitcoin was trading near $61,642, down about 1.60% over 24 hours, after falling from earlier highs near $63,800.
XRP traded near $1.11, reflecting a 24-hour decline of about 3%. Stellar’s XLM fell 4.63% to about $0.1898. The broader crypto market capitalization declined 1.50% to roughly $2.13 trillion as traders reduced risk exposure amid rising military and inflation concerns.
The selloff followed renewed threats from President Donald Trump, who said Iran would “pay the price” after taking too long to negotiate a deal. Reports also said Trump was considering ordering the U.S. military to target Iranian power plants and bridges, while Dow futures extended losses by more than 400 points.
Trump said Iran’s military had been “completely defeated” and accused Tehran of delaying negotiations. His remarks marked a sharper tone from earlier comments suggesting the United States and Iran were close to a possible agreement.
The latest escalation followed U.S. strikes on Iranian sites after an American Army helicopter was reportedly downed in the Gulf. U.S. Central Command said Iranian defense systems, ground control stations, and radar sites near the Strait of Hormuz were targeted.
Iran’s Islamic Revolutionary Guard Corps said it responded with strikes on 21 U.S.-linked targets in the region, including sites in Bahrain and Jordan. Kuwait also said its military intercepted an attack.
Iranian Foreign Minister Abbas Araghchi said Iran would not leave any attack or threat unanswered. Iranian officials also accused the United States of damaging the diplomatic process through shifting demands and ceasefire violations.
The Strait of Hormuz remains a key concern for global markets because of its role in energy shipments. The U.S. Energy Department’s forecasting arm warned that oil prices could stay elevated through at least July, with Brent crude expected to average about $105 per barrel in June and July.
Bitcoin’s decline to about $61,642 placed the asset close to the lower end of its recent trading range. The price briefly fell near $60,700 after Trump’s latest comments before recovering part of the move.
The largest cryptocurrency has remained under pressure after losing more than 8% over the past seven days. The recent decline has been linked to geopolitical risk, reduced appetite for speculative assets, and broader selling across crypto markets.
The total crypto market capitalization fell 1.50% to about $2.13 trillion, showing weakness beyond Bitcoin. Traders also monitored U.S. inflation data after May CPI has risen to 4.2%, the highest level since April 2023. Core CPI increased to 2.9%, its highest level since September 2025.
Higher inflation readings may increase expectations for tighter Federal Reserve policy. Rate hike odds have risen as inflation moved further above the Fed’s 2% target, adding another source of pressure for risk assets.
Crypto markets are now watching whether Bitcoin's price can hold near the $60,000 support zone. A sustained move below that level could add pressure to major altcoins, including XRP and XLM. If Bitcoin stabilizes, traders may look for recovery attempts across larger-cap crypto assets.
