{"id":51496,"date":"2026-04-02T09:47:38","date_gmt":"2026-04-02T14:47:38","guid":{"rendered":"https:\/\/bitcoinmagazine.com\/?p=51496"},"modified":"2026-04-02T09:48:14","modified_gmt":"2026-04-02T14:48:14","slug":"bitcoin-price-continues-sliding","status":"publish","type":"post","link":"https:\/\/bitcoinmagazine.com\/markets\/bitcoin-price-continues-sliding","title":{"rendered":"Bitcoin Price Continues Sliding as President Trump Signals Iran Escalation, Raising Risk of Drop Toward $60,000"},"content":{"rendered":"<div id=\"bsf_rt_marker\"><\/div>\n<p class=\"wp-block-paragraph\">Bitcoin price fell last night after President Donald Trump signaled a potential escalation in military action against Iran, triggering a broad pullback across global markets and raising questions about whether bitcoin price could test lower support levels.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The price of Bitcoin <a href=\"https:\/\/bitcoinmagazine.com\/bitcoin-price\">dropped<\/a> nearly 4% within hours after Trump\u2019s April 1 address, sliding to below $66,000 early April 2. The decline came as investors shifted away from risk assets following remarks that pointed to harder strikes in the coming weeks, with no timeline for de-escalation.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Equity markets also moved lower. The S&amp;P 500 traded in negative territory, while Asia-Pacific <a href=\"https:\/\/www.reuters.com\/world\/asia-pacific\/hopes-dim-swift-end-iran-war-after-trump-speech-oil-prices-surge-anew-2026-04-02\/\" target=\"_blank\" rel=\"noopener\">equities reversed earlier gains<\/a>. At the same time, oil prices surged, with Brent crude rising above $106 per barrel as traders priced in the possibility of prolonged disruption in the Strait of Hormuz, a key global shipping route.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The move highlights how closely Bitcoin price is tracking traditional markets during periods of geopolitical stress.\u00a0<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Data shows the 30-day correlation between Bitcoin price and the S&amp;P 500 has climbed to around 0.75, indicating that institutional investors are treating the digital asset more like a high-growth technology proxy than a hedge.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Bitcoin price resilience\u00a0<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Bitcoin had shown some resilience in recent weeks, ending March with a modest gain and snapping a multi-month losing streak. However, it remains down roughly 45% from its prior peak <a href=\"https:\/\/bitcoinmagazine.com\/markets\/bitcoin-price-skyrockets-to-all-time-high-of-125750-what-comes-next\">above<\/a> $126,000, and demand indicators suggest continued pressure.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">JUST IN: Bitcoin has closed its first green month after 5 months of red \ud83d\udc40 <a href=\"https:\/\/t.co\/jVMxXp9w2L\">pic.twitter.com\/jVMxXp9w2L<\/a><\/p>&mdash; Bitcoin Magazine (@BitcoinMagazine) <a href=\"https:\/\/twitter.com\/BitcoinMagazine\/status\/2039315503236223475?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">April 1, 2026<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">From a technical perspective, Bitcoin is now approaching a key support range between $64,000 and $65,000. The level has held through several recent tests, but a break below it could open the door to a move toward $60,000, near the February low, according to <em>Bitcoin Magazine Pro<\/em> data.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">On the upside, resistance sits around $68,000 and $70,000. Analysts say those levels need to be reclaimed to shift sentiment and support a recovery narrative.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Until then, price action remains constrained by a pattern of lower highs that has developed since March.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Long-term holder data <a href=\"https:\/\/www.coindesk.com\/markets\/2026\/04\/02\/the-time-pain-trap-why-bitcoin-s-bear-market-might-need-a-few-more-months-of-boring-to-hit-a-true-floor\" target=\"_blank\" rel=\"noopener\">suggests<\/a> the market may be moving through a late-stage bear cycle. Investors holding Bitcoin for six months or more now control about 80% of supply, approaching levels that have marked past market bottoms.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Even so, previous cycles indicate that extended periods of sideways trading often follow before a sustained recovery begins.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">On top of this, Bitcoin treasury firms and public companies are <a href=\"https:\/\/bitcoinmagazine.com\/news\/bitcoin-treasuries-are-cracking\">offloading<\/a> BTC as prices fall, adding fresh pressure to the market as long-term holders turn into sellers. Companies including Riot Platforms, MARA Holdings, and Genius Group have trimmed holdings this week to raise liquidity and service balance sheets.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">For now, Bitcoin\u2019s reaction to geopolitical developments underscores its current role within the broader macro environment.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">As long as uncertainty around the Iran conflict persists, market direction may remain tied to shifts in risk sentiment rather than a return to the asset\u2019s safe-haven narrative.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price fell nearly 4% after President Trump signaled potential escalation against Iran, sparking a broad risk-off move across global markets and dragging the BTC price temporarily below $66,000.<\/p>\n","protected":false},"author":3817,"featured_media":51498,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[34],"tags":[76,132,6090,5454],"class_list":["post-51496","post","type-post","status-publish","format-standard","has-post-thumbnail","category-markets","tag-bitcoin","tag-bitcoin-price","tag-market","tag-markets"],"author_data":{"id":3817,"name":"Micah Zimmerman","nicename":"micahzimmerman","avatar_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2025\/11\/Micah_Zimmerman_Author_Image.jpg"},"featured_image_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2026\/04\/Bitcoin-Price-Continues-Sliding-as-President-Trump-Signals-Iran-Escalation-Raising-Risk-of-Drop-Toward-60000.jpg","_links":{"self":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/51496","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/users\/3817"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/comments?post=51496"}],"version-history":[{"count":0,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/51496\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media\/51498"}],"wp:attachment":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media?parent=51496"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/categories?post=51496"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/tags?post=51496"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}