Bitcoin tumbled back to $106,000 in early Tuesday trading after U.S. President Donald Trump denied claims he was involved in brokering a ceasefire between Iran and Israel, shaking markets that had priced in potential de-escalation.

The late-night Truth Social post from Trump, published just before midnight Eastern time, blasted French President Emmanuel Macron and dismissed any truce negotiations as “wrong” and “publicity-seeking.” The post came shortly after reports circulated suggesting Trump’s abrupt G7 exit was linked to a backchannel ceasefire push.

“Publicity-seeking President Emmanuel Macron… Wrong! He has no idea why I’m on my way to Washington, but it certainly has nothing to do with a cease fire. Much bigger than that,” Trump wrote.

Trump also advised Tehran citizens to evacuate immediately, spurring panic and leading to miles of gridlocked traffic on highways exiting the city. Speaking at the G7 summit, he also bemoaned Russia’s removal from the group, indicating his support for its reinclusion even amid the Ukraine war.

The remarks sent Bitcoin into a fresh slide, falling as low as $106,214 during the Asian session, erasing much of the previous day’s bounce. The world’s largest digital asset has lost 2.5% from local highs as geopolitical tensions continue to drive market sentiment.

According to CoinGlass, crypto futures liquidations surged to over $347 million in the 24 hours following Trump’s post. Ethereum, XRP, and Solana posted slightly elevated declines around 4%, and equity index futures also dipped, with S&P 500 minis down 0.6% overnight.

Meanwhile, traditional haven assets also struggled with gold trading flat, while Brent crude rose just 1% to trade around $70, reflecting unknown concerns over prolonged conflict in the Middle East.

The Trump effect on Bitcoin

Over the last 7 days, President Trump’s Truth Social posts on geopolitical matters have repeatedly contributed to a decline in Bitcoin price.

While he is not the sole factor moving markets, the timing of his comments alongside price movements is clear. Bitcoin appears to be behaving in a highly resilient manner amid high tension across Russia, Ukraine, Gaza, Israel, and Iran. Though its ‘safe haven’ status is weak.

Several key posts highlighted in the chart below resulted in a combined 10% decline, but a net drop of just 3.5% due to Bitcoin’s uncanny ability to hold above $100,000.

This is the second time in a week we’ve seen BTC drop in sync with equities while gold rallies or holds. The risk-off playbook is dominating.

Tuesday’s moves also highlight the return of “Trump volatility” to financial markets. Much like in his first term, off-the-cuff social media posts now influence billions in capital flows, particularly in crypto, where leverage and sentiment often amplify abrupt shifts.

Previous examples include a May 2025 tweet threatening EU tech tariffs, which triggered a 4% BTC drop within hours.

Analysts are now watching whether Trump’s political positioning will continue to drive market jitters, especially with unresolved tensions in the Middle East..

Bitcoin’s sharp selloff, once again coinciding with a geopolitical headline, has reignited debate over its role as a “digital gold” safe haven. Despite long-held narratives around BTC’s resilience, recent market behavior points to a risk-on correlation pattern, with traders pulling back from crypto alongside stocks in response to global tensions.

What’s next?

Market watchers will be focused on any further diplomatic developments or comments from other G7 leaders. A confirmed ceasefire, or U.S. involvement in attacks on Iran, could shift asset flows again.

On the technical side, Bitcoin bulls are eyeing $100,000 as a psychological floor, though cascading liquidations and leveraged positioning may pressure that level if risk sentiment continues to deteriorate.

Despite the macro headwinds, on-chain data remains broadly constructive, with BTC hash rate and long-term holder activity still near highs, offering a glimmer of resilience beneath the noise.

The post Bitcoin gives up rally after Trump denies Iran-Israel ceasefire role, calls Tehran to evacuate appeared first on CryptoSlate.

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Filed under: Bitcoin - @ June 17, 2025 8:18 am