Crypto markets are trading under pressure as the Iran conflict keeps driving global risk sentiment. A Wall Street Journal report cited by Reuters said President Donald Trump is prepared to end the current fighting even if the Strait of Hormuz remains closed for now. According to the report, Trump and his advisers concluded that making the reopening of the waterway part of a full military mission could push the conflict beyond his preferred four-to-six-week window.
Washington appears focused on a narrower military objective
The report said Trump sees immediate U.S. priorities as damaging Iran’s naval capability and reducing its missile stockpiles rather than trying to resolve every part of the crisis at once. That points to a more limited campaign, with the White House potentially seeking a contained military outcome before shifting toward de-escalation. Public comments from officials also suggest that Washington is weighing military pressure and diplomacy at the same time, not treating either path as exclusive yet.
Hormuz reopening may be pushed into a later phase
The same report said Trump believes the current hostilities could be wound down while the U.S. continues pressing Tehran to restore the “free flow of trade” through diplomacy. If Iran does not respond, U.S. officials told the Journal that Washington may ask European and Gulf allies to take a larger role later in reopening the Strait. That would mean less direct U.S. military involvement in the next phase and more reliance on allied support and diplomatic pressure.
An 8 a.m. ET briefing is the next key trigger for markets
Traders are now watching a scheduled 8 a.m. ET media briefing by Defense Secretary Pete Hegseth and Joint Chiefs Chairman General Dan Caine. The event could clarify whether the U.S. intends to continue strikes, lean harder on diplomacy, or widen the role of partners. In crypto, that kind of headline risk often feeds into spot and derivatives trading quickly. Price reactions can come fast.
Stocks and digital assets are both reacting to the war risk
The conflict is already spilling into traditional finance and crypto. Reuters reported that Morgan Stanley cut its view on global equities as oil prices climbed and uncertainty deepened. Bitcoin has also lost ground. Market reports show it traded above $71,000 last week, including around $71,048 on March 24, and is now near $67,500. That is a drop of more than $3,000 in just a few days, a sign of how sharply geopolitical headlines are feeding volatility across the market.
Until Washington gives a clearer signal on its next move, traders across stocks and crypto are likely to stay focused on each new update tied to the conflict.