‘Operation Epic Rage’, which began on February 27 under US President Donald Trump, has shaken the crypto market ever since.
After witnessing New Year optimism in January 2026, the crypto market went off the rails as BTC crashed from a mid-January high of $96,000 to $65,000 on February 28.
This bearish trend continued and even after many attempts, Bitcoin failed to reclaim the $75,000 mark.
President Donald Trump’s threat has countries around the world uneasy
Needless to say, this high volatility continued until US President Donald Trump made nuclear threats against Iran.
Trump made the following warning using the social media platform True Social:
An entire civilization will die tonight and will never be brought back. I don’t want this to happen, but it probably will.
This sent shockwaves across the country and even the crypto world, which had been on a downward trend after modest bullish signs just the day before.
Digital asset class vs traditional asset class
But if we compare Bitcoin (BTC) and wider Crypto market to S&P 500gold and other traditional asset classes subsequently survived strongly. In fact, according to a recent report from Polymarket, Iran was also accepting crypto payments as tolls From ships passing through the Strait of Hormuz.
Touching on the same subject, financier and former White House Communications Director Anthony Scaramucci made a recent statement. podcast Michael Novogratz, CEO of Galaxy Digital, said:
What is sticky and looks resilient after falling 40% is Bitcoin.
Novogratz echoed similar sentiments but added with some uncertainty:
We are stuck between some sellers and some buyers. And volumes have dropped a lot. Much less exciting. But there are no more power salesmen.
However, despite this optimism, the Crypto Fear and Greed Index was in the “Extreme Fear” zone at the time of publication. Mostly Alternating between “Fear” and “Extreme Fear” zones Amid geopolitical turmoil, the crypto market merely reflects cautious investor sentiment.
Is Trump’s impeachment approaching?
Needless to say, Trump’s latest threat has prompted many to call for US President Trump’s removal from office under the 25th Amendment.
However, the Polymarket probability of Trump being impeached before the end of his term was 65% at the time of reporting.
Taken together, this shows how Trump’s pro-cryptocurrency policies and plans after becoming the 47th President of the United States now appear controversial.
Peter Schiff takes a different route
However, while the whole world was shaken by this news, Europac Chief Economist and Global Strategist Peter Schiff said: He called this threat a bluff as he said
If they believed there was a reasonable possibility that Trump would actually kill Iranian civilization tonight, stocks would be much lower and oil much higher.
Schiff argued:
If investors don’t believe Trump, why should the Iranian leadership?
Ceasefire and its impact on the crypto market
However, as of 8 April 05:20 IST, Prime Minister of the Islamic Republic of Pakistan Shehbaz Sharif breathed new life into the world by stating:
Now, with an agreement for an immediate ceasefire at both ends, the crypto market has turned green.
At the time of writing, the value of the global crypto market reached $2.45 trillion, increasing by 4.42% in the last 24 hours. At the same time, Bitcoin was changing hands at $71,884.44, after increasing by 5.04% in the same period.
Final Summary
- Increasing US-Iran tensions left the crypto market in the hands of sellers.
- The immediate ceasefire announcement moved the market from bearish to bullish, but fear remains.
