Is Crypto Market Crash Deepening After Trump Confirms More Strikes On Iran?

Crypto markets remain under pressure after U.S. President Donald Trump confirmed that military operations against Iran will continue following joint U.S.–Israeli strikes that killed Iran’s Supreme Leader, Ayatollah Ali Khamenei.

Trump said combat operations are ongoing and will persist until U.S. strategic objectives are achieved, warning Tehran of further consequences as the conflict escalates.

Total crypto market cap analysis

The total crypto market capitalization has fallen sharply from January highs near $3.3 trillion to around $2.26 trillion at press time, marking a drawdown of more than $1 trillion at the peak of the selloff.

February saw an accelerated breakdown, with a large capitulation candle pushing the market toward the $2.1–$2.2 trillion support zone.

Currently, total market cap is consolidating near $2.26 trillion, showing mild stabilization but no clear reversal. Immediate support sits around $2.1 trillion, the recent wick low.

A break below that could open the door toward the psychological $2.0 trillion level. On the upside, resistance stands near $2.35–$2.4 trillion, where previous breakdown consolidation occurred.

Momentum suggests a bearish structure remains intact, though volatility has compressed, indicating markets are waiting for further geopolitical clarity.

Crypto market crash continues: Bitcoin struggles

Bitcoin (BTC) mirrors the broader market weakness. After topping near $96,000 in early January, BTC plunged below $70,000, briefly wicking toward the low $60,000s during February’s panic selling.

At the time of writing, BTC trades around $66,200.

Technically, Bitcoin remains below both its 50-day SMA (~$77,277) and 100-day SMA (~$83,408) — a bearish alignment that confirms downward momentum. The 50-day moving average is trending lower and approaching a potential bearish crossover configuration.

Immediate support lies around $64,000–$65,000, with stronger structural support near $60,000. Resistance remains heavy at $70,000, followed by the 50-day SMA near $77,000.

While markets have not made new lows since the initial strike shock, Trump’s confirmation of continued military operations adds uncertainty that could keep risk assets under pressure. For now, crypto appears to be stabilizing, but the broader downtrend remains intact unless key resistance levels are reclaimed.