On Saturday afternoon, Bitcoin was trading just above $67,000 as U.S. President Donald Trump issued a 48-hour ultimatum to Iran, demanding the reopening of the Strait of Hormuz under threat of 'crushing military consequences.' The move escalated a conflict that began on February 28 with Operation Epic Fury, a joint U.S.-Israeli campaign that has struck over 9,000 targets inside Iran.
Ultimatum and Military Escalation
Trump posted the ultimatum on Truth Social on April 4, 2026, setting a deadline for Iran to either reach an agreement or fully clear the strait without threats. 'The real hell will begin,' he wrote. The order came six weeks after the start of Operation Epic Fury, which has neutralized Iran's command centers, air defenses, ballistic missile sites, and naval forces. U.S. officials claim Iran's navy is largely incapacitated and missile production severely degraded.
In retaliation, Iran shut or blocked the Strait of Hormuz, through which approximately 20% of global oil flows. Brent and WTI crude prices climbed above $100–$110 per barrel, fueling inflation fears worldwide.
On Friday, Iranian forces reportedly shot down a U.S. F-15E Strike Eagle over southern Iran. Special operations teams rescued the pilot, but the weapons system officer remains missing. Search-and-rescue operations continue in hostile terrain. A support A-10 Warthog was also hit near the strait, and a Black Hawk helicopter took small-arms fire but withdrew without casualties.
Early Saturday, a shell landed near Iran's Bushehr nuclear power plant — the fourth incident at the site. One security guard was killed by shrapnel, and the building sustained blast and fragment damage. The International Atomic Energy Agency (IAEA) confirmed the incident, stating no radiation increase was detected. IAEA Director General Rafael Mariano Grossi warned that attacks on or near nuclear facilities risk damaging safety equipment and must not be allowed.
Senator Lindsey Graham (R-SC) backed Trump's stance, stating Iran faces a 'massive military operation' if it fails to reopen the strait and negotiate peace.
Bitcoin's Behavior and Market Impact
Following the ultimatum, Bitcoin dipped slightly, briefly falling below $68,000 before trading around $67,000 on Saturday. The digital asset had earlier hit a 2026 low of $65,834 after a previous Trump statement but recovered to hold above $66,000 over several sessions. Since the start of Operation Epic Fury, Bitcoin has traded in a volatile range of $65,000 to $71,000, often dropping on strike news and recovering on ceasefire signals. Analysts describe this as relative resilience, noting that institutional flows and technical support near $65,000–$66,000 held despite rising oil prices and equity pullbacks.
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Outlook
The 48-hour window, ongoing search for the missing F-15E crew member, and the Bushehr incident are the immediate flashpoints. If no deal emerges, markets expect heightened volatility early next week.