Bitcoin, Ethereum, XRP Fall After Trump Iran Ultimatum. Why Crypto's Tied to the War. -- Barrons.com

Dow Jones03-23

By Alex Kozul-Wright

The price of Bitcoin was falling early Monday as new threats from both the U.S. and Iran, which threatened to intensify tensions across the Middle East, bruised financial markets.

Bitcoin dropped 1.6% to $67,806 over the past 24 hours, according to CoinDesk data. Elsewhere, Ethereum and alt-coin XRP were also trading in the red -- by 3% and 2.8%, respectively.

President Donald Trump threatened to "hit and obliterate" key Iranian power plants Saturday if the Strait of Hormuz was not reopened by late Monday.

That prompted Iranian officials to issue threats targeting regional infrastructure linked to the U.S. and its allies -- including energy and industrial sites, according to The Wall Street Journal.

While international oil benchmarks were rising Monday morning, stock futures were falling. Dow futures were down 0.6%, while S&P 500 futures fell about 0.8%.

For now, major cryptocurrencies appear to be caught up in a broad market selloff. Their near-term prices look set to be tied to events in the Middle East.

Write to Alex Kozul-Wright at alexander.kozul-wright@barrons.com

This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

March 23, 2026 04:21 ET (08:21 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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