Bitcoin, Ethereum fall after Trump warns of bigger attack

Bitcoin and Ethereum fell Tuesday after President Trump said the U.S. was striking Iranian targets near the Strait of Hormuz and warned of a larger attack to come. Trump wrote on Truth Social that the action was in retaliation for Iran trying to place sea mines in the waterway and firing eight missiles at a US military base in Jordan. The Kobeissi Letter said on X that Brent crude jumped toward $96 per barrel on the news, up nearly 5% on the session.

With oil and yields rising at the same time, the Dow, S&P 500 (NYSE: SPY), and Nasdaq traded lower, adding to a broader risk-off tone in global markets. Peter Schiff posted on X that as long as deficit spending continues, the Fed will keep printing money and buying Treasuries, so small rate hikes will not reduce inflation and could instead fuel it by widening budget deficits further.

Coindesk reported that Bitcoin analyst James Lavish said a key global bond yield gauge had hit its highest level since 2008, calling it “the” Analyst Caleb Franzen said that literally everyone in the market now expects yields to move higher, a level of consensus that he said carries contrarian risk. He added that the death of fiat was in a slow-motion train crash. He said rising yields matter for Bitcoin because higher returns on safe government bonds pull capital away from risk assets like crypto, making it harder for Bitcoin to hold recent gains without fresh spot demand stepping in. Bitcoin pulled back after tagging a high of $82,207, its highest print since May.

Price now tests the 0.786 Fibonacci support at $76,984, the same zone that acted as resistance through June and July before the breakout. Holding that level keeps the breakout structure intact while losing it risks a deeper move toward $72,900. Ethereum is consolidating inside an ascending triangle below flat resistance at $2,485. RSI at 64.86 remains in bullish territory after cooling from above 80, with the 20-day EMA at $2,308 as the first real support below.

Key levels for BTC and ETH: BTC — support $76,984, resistance $82,207. ETH — support $2,308, resistance $2,485.