Oil rises while Bitcoin drops after Trump says Iranian peace deal has ended

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Last Updated on 9 July 2026 by CryptoTips.eu

Several US attacks on Iran drove up the price of oil overnight while putting pressure on crypto and tech stocks. The US President claims that peace talks between the two countries are over.

At the same time, a crypto wallet linked to Elon Musk’s company SpaceX is preparing to sell Bitcoins.

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Pressure

It seems no one truly knows what the long-term outcome will be of the ongoing conflict between the United States and Iran; consequently, stock and crypto markets are reacting with high volatility to the latest emotional response from U.S. President Trump. He claims that, as far as he is concerned, talks between Iran and the United States are over.

This news is putting pressure on both the cryptocurrency market and stock exchanges. As a result, the largest digital currency remains within the $60,000 to $65,000 trading range where it has been stuck for several weeks.

SpaceX

Furthermore, research firm Arkham noted that a large crypto wallet linked to Elon Musk’s SpaceX is preparing to sell Bitcoin.

SpaceX holds over a billion dollars’ worth of Bitcoin, and if it were to sell it all in the coming weeks and months, this would put additional pressure on the price.

SpaceX stock, which sparked a real frenzy during the company’s IPO week, has since fallen 30% from its peak.

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / jeroen@cryptotips.eu
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