[Bitop Review] Trump Threatens to Escalate Iran War, Oil Prices Hit Intraday Highs, Stocks Pull Back, Bitcoin Drops to 67K

US President Donald Trump delivered a national address at 9:00 AM Beijing Time, stating that the US will strike Iran extremely hard in the next two to three weeks. Instead of convincing the market that he could quickly end the war, these remarks made investors uneasy. Affected by this, Brent crude oil hit intraday highs. Asian stock markets erased their gains, while Bitcoin dropped from 68K to 67K.

Trump: US Core Objectives in Iran "Nearing Completion"

US President Donald Trump delivered a national televised address on April 1, 2026, announcing that Operation Epic Fury against Iran has made substantial progress after about a month. This operation has achieved almost all of its military objectives, including the destruction of Iran's ballistic missiles and drones, air force, navy, and industrial bases. He stated that these measures will prevent Tehran's proxies from destabilizing the region and cut off Iran's path to developing nuclear weapons.

Negotiations Still Ongoing, Extremely Severe Strikes on Iran Expected in the Next Two to Three Weeks

Trump added that negotiations are still ongoing, but also warned that if an agreement is not ultimately reached, the US will severely strike every power plant in Iran, and it is highly likely to be done simultaneously.

Gasoline Price Surge is a "Short-Term" Phenomenon Caused by Iranian Attacks

Regarding the recent surge in oil prices caused by the closure of the Strait of Hormuz, Trump insisted that this is only a short-term phenomenon and that the energy shock will ease once the war ends. However, he did not elaborate in his speech on how the US would persuade Iran to restore traffic in the Strait of Hormuz. He urged allies who rely on Middle Eastern oil supplies to safeguard this passage.

Stocks Fall, Crude Oil Hits Intraday Highs

Some of Trump's remarks, rather than convincing the market that he could quickly end the war, seemed to make investors uneasy. Affected by this, US Treasury yields climbed, and the US dollar strengthened. In addition, Trump's comments also triggered a rise in crude oil prices, with Brent crude hitting intraday highs. Asian stock markets erased their gains, while Bitcoin dropped from 68K to 67K.

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