Bitcoin, Nasdaq futures decline as Trump won’t rule out more Iran strikes — SkimNews
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- Bitcoin fell 1.3% to $83,324 at 03:30 UTC and Nasdaq futures slid after Trump on Sunday declined to rule out additional U.S. military strikes on Iran before the midterm elections, even as he said the war could end "very soon."
- WTI crude oil rose nearly 1% to $93.28, with Brent posting similar gains, reflecting the renewed possibility of escalation.
- Trump rejected Iran's UN General Assembly proposal to reopen the Strait of Hormuz for a seven-day period and pause fighting, saying Tehran is seeking a deal because it is under heavy pressure and stressing on Truth Social that Iran "cannot have a nuclear weapon."
- Iran's Foreign Minister Abbas Araghchi declared Iran is "fully prepared" for renewed conflict and warned it could withstand a potential "doomsday war."
- The 10-year Treasury yield has climbed 127 basis points to 5.20% — its highest since 2007 — as the seven-month war stokes inflation fears and Fed rate-hike bets.
- Despite the Monday dip, bitcoin is up 42% over the past three months, outperforming every major asset including the Nasdaq and gold.
- U.S. economic data due this week — PCE inflation, ISM manufacturing, and nonfarm payrolls — could sharpen rate-hike expectations and add to market volatility.
Why it matters: Markets absorbed a contradictory Trump signal — rejecting Iran's seven-day Strait of Hormuz proposal while refusing to rule out more strikes — leaving the war's timeline ambiguous just as PCE inflation data lands. The 10-year yield has surged 127 bps to 5.20%, a level not seen since 2007, forcing risk assets to price in a tighter Fed.
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