Trump's final ultimatum has shaken the market: safe-haven sentiments drag down cryptocurrencies, and Bitcoin suffers a painful loss of $70,000.

Notice that on Tuesday, the price of Bitcoin declined, with the cryptocurrency being caught up in broader market volatility ahead of the final deadline set by US President Trump for Iran. The largest cryptocurrency saw a drop of up to 2.2% at one point, with its trading price around $68,460 at the time of writing. This decrease erased the gains from the previous day, when Bitcoin briefly surged over $70,000 for the first time since March. Other digital assets also experienced declines, with the second largest token, Ethereum, dropping by as much as 2.8%. Global stock markets experienced fluctuations ahead of Trump's set deadline on Tuesday. Trump threatened to bomb Iran's civilian infrastructure unless the Strait of Hormuz was opened. S&P 500 index futures dropped by 0.4%. BTC Markets analyst Rachel Lucas stated that the sentiment for Bitcoin "remains bearish in the short to medium term." She added that the market is in a wait-and-see mode, with "longs lacking enough confidence to sustain the breakout, and shorts unable to force a decisive breakdown in price." The risk of escalation of war with Iran, largely due to reports that Iran rejected a ceasefire proposal, has kept investors cautious. Trump stated that opening the key trade waterway the Strait of Hormuz would be part of any agreement to end the war. Oil prices have surged significantly since the start of the conflict. Brent crude oil rose on Tuesday, continuing a roughly 50% increase since the conflict began at the end of February. Gold remained mostly flat for the day, having already dropped over 10% since the start of the war. In comparison, Bitcoin has shown stronger resilience, with signs indicating that institutional selling pressure is easing. US-listed spot Bitcoin ETF recorded a net inflow of $471.3 million on Monday, following $22.3 million inflow the previous week. Since early March, the price of Bitcoin has mainly ranged between $65,000 and $75,000. Cryptocurrency trading has been weak since a sharp sell-off in October last year. Now, traders are focusing on the end of the war and new cryptocurrency legislation in the US, believing these factors could drive digital assets higher. Lucas stated, "The bullish scenario hinges on two catalysts: one being a confirmed and sustained US-Iran ceasefire that brings oil prices below $100; and the other being the expected passage of the US Clarity Act in late April, with institutional market participants closely monitoring this act as a 'unsealing' at the regulatory level."