Daily Market Update: What the Trump Iran Deadline Means for Bitcoin, Oil, and Stocks

TLDR

Bitcoin pulled back to $68,589 after a ceasefire-driven rally faded, staying in its six-week $65K–$73K range Monday’s brief rally triggered $196.7 million in short liquidations before Iran rejected the ceasefire proposal Trump set a Tuesday night deadline for Iran to accept a deal, threatening to destroy infrastructure if no agreement is reached Oil surged above $112 per barrel as tensions escalated, with Brent trading near $115.66 US stock futures slipped Tuesday morning, after the S&P 500, Nasdaq, and Dow all closed slightly higher Monday

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Bitcoin dropped back to $68,589 during Asian trading hours on Tuesday after a short-lived rally faded. The move came as President Donald Trump set a Tuesday night deadline for Iran to accept a peace deal or face military consequences.

Bitcoin (BTC) Price

Monday’s optimism came from an Axios report about a potential 45-day ceasefire. That pushed Bitcoin briefly above $69,000 and triggered $196.7 million in short liquidations. The gains lasted roughly 12 hours.

Iran then reportedly rejected the ceasefire proposal through mediator Pakistan. Tehran demanded a permanent end to the war, lifting of sanctions, reconstruction support, and safe passage through the Strait of Hormuz.

Ether fell 1% to $2,104. Solana dropped 2.7% to $79.75. XRP lost 1.6% to $1.32. Dogecoin slid 2.2% to $0.09. BNB held relatively flat at $598.

“This move looks less like a shift in fundamentals and more like positioning getting caught offsides,” said Diana Pires, chief business officer at sFOX. Bearish sentiment had been building before the ceasefire headlines forced traders to unwind short positions quickly.

Oil Surges as Trump Issues Stark Warning

Trump threatened to destroy “every bridge in Iran” and put every power plant “out of business” if no deal is reached by midnight Tuesday. Despite this, he also said talks were “going well.”

President Trump: "Tuesday will be power plant day"

US futures -0.54%$SPY $QQQ #Iran pic.twitter.com/ylWFfvAp6c

— Crypto Seth (@seth_fin) April 5, 2026

US crude climbed above $112 per barrel. Brent traded near $115.66, up 2.9% on the session. Rising oil prices are adding pressure to an already uncertain macro environment.

US stock futures slipped Tuesday morning ahead of the deadline. Contracts linked to the S&P 500 and Nasdaq 100 declined 0.4% and 0.5% respectively. Dow futures slipped around 0.2%.

Stocks and Economic Data in Focus

Despite Tuesday’s pullback in futures, Monday’s session closed positive. The S&P 500 advanced nearly half a percent. The Nasdaq posted a similar gain. The Dow climbed more than 160 points.

E-Mini S&P 500 Jun 26 (ES=F)

Traffic through the Strait of Hormuz increased this week, providing some relief. China and Japan received the largest number of tankers, easing some supply pressure.

US services data for March showed slower economic expansion. Employment contracted at its sharpest rate since 2023. Input prices accelerated. The data gives the Federal Reserve no clear direction on rates.

Key inflation data is due Friday. Traders are also watching preliminary February durable goods orders, due Tuesday morning. Delta earnings are expected Wednesday.

Trump posted on Truth Social urging Iran to reopen the Strait, and separately stated that “the American people would like to see us come home,” signaling possible pressure to wind down the conflict.

Bitcoin has stayed within the $65,000 to $73,000 range for the entirety of the conflict. Trump’s midnight Tuesday deadline will likely determine which end of that range gets tested next.

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