Trump denies Iran-Israel peace talk involvement, calling reports “FAKE NEWS,” sparking crypto market volatility with $800M in liquidations.
US President Donald Trump has stated that he has not “in any way, shape, or form” reached out to Iran for peace talks, resulting in some selling pressure in the crypto market over the past hour. The possibility of Trump mediating a ceasefire has gained momentum as the Iran-Israel conflict continues to escalate. Nevertheless, Trump referred to them as “FAKE NEWS” and “HIGHLY FABRICATED.” This was sufficient to induce anxiety in the global market.
Cryptocurrency market liquidations increase by $363 million
The crypto market has experienced over $363 million in liquidations due to the selling pressure generated by Trump’s decision to reverse course on the Iran-Israel peace negotiations. According to the Coinglass data, $263 million of this is in extended liquidations.
The Bitcoin price has decreased by 1.17%, falling below the $106,000 mark. Meanwhile, daily trading volumes have increased by 25.88% to exceed $52.8 billion. Altcoins have been experiencing an even more precipitous decline, with Ethereum (ETH) experiencing a 2.5% decline, bringing it closer to the $2,500 support level.
Similarly, Hyperliquid has plummeted by 8% from yesterday’s HYPE all-time high. At the same time, Solana (SOL), Dogecoin (DOGE), and Cardano (ADA) have all experienced a decline of over 3% today.
Crypto market investors would intently monitor the US market’s opening on Tuesday, as the S&P 500 is currently hovering near all-time highs. Furthermore, future market activity will be influenced by the FOMC meeting and the Federal Reserve’s decision on rate reduction.
Peace negotiations between Iran and Israel are currently out of the question
Reports from a few years ago indicated that Trump was making “last-ditch efforts” to negotiate a peace agreement between Israel and Iran. Nevertheless, in his most recent post on Truth Social, President Trump dismissed any such endeavors, referring to the previous reports as “FAKE NEWS.” He composed the following:
“I have not reached out to Iran for “Peace Talks” in any way, shape, or form. This is just more HIGHLY FABRICATED, FAKE NEWS! If they want to talk, they know how to reach me. They should have taken the deal that was on the table – Would have saved a lot of lives!!!”
Donald Trump’s request to evacuate Tehran has prompted speculation that the United States may also participate in the conflict against Iran alongside Israel. The crypto market may experience increased volatility in the event of such a development.
