PiCK
"War entering its final phase"… Bitcoin back above $70,000 on a single Trump remark
Summary
- It said that after U.S. President Donald Trump’s remark that the war is in its "final phase," Bitcoin reclaimed $70,000 in four days.
- With war concerns easing, Bitcoin rose 2.32% to as high as $70,581 in Asian trading that day, while Ethereum, Ripple (XRP) and Solana also moved higher.
- Richard Galvin of hedge fund DACM suggested the conflict with Iran could end early, but warned of the risk that markets misinterpret Trump’s comments or that the chance of de-escalation could be ruled out if tensions intensify.
Forecast Trend Report by Period
After U.S. President Donald Trump said the war with Iran was "well ahead of the initially expected timeline (4–5 weeks)" and described it as entering its "final phase," Bitcoin rebounded above $70,000 for the first time in four days.
According to Bloomberg on the 10th, as war-related fears eased, Bitcoin rose 2.32% to as high as $70,581 in Asian trading that day.
Other cryptoassets also advanced. Ethereum climbed as much as 1.3%, while Ripple (XRP) and Solana rose up to 1.4% and 1.2%, respectively, Bloomberg reported.
Earlier, at a press conference, Trump said the military operation against Iran would "end soon," adding that the timing of its conclusion would be "very soon."
In a media interview, he also stressed that he believes the war is in its final phase.
Richard Galvin, co-founder of hedge fund DACM, said it was "a signal suggesting the conflict with Iran could end faster than the market expects," but cautioned that "the market may be misreading Trump’s remarks, or one of Israel, the U.S. or Iran could escalate hostilities further, risking a scenario that rules out de-escalation."
Oh Se-seong, Hankyung.com reporter sesung@hankyung.com
Korea Economic Daily
hankyung@bloomingbit.ioThe Korea Economic Daily Global is a digital media where latest news on Korean companies, industries, and financial markets.
