Bitcoin faces the risk of a decline as oil prices rise back above $100 per barrel today. This comes as the United States and Israel strike new Iranian energy infrastructure linked to power plants, even after US President Donald Trump announced a temporary pause.
Bitcoin is under pressure as Iran rejects peace talks amid Trump’s 5-day shutdown
Brent crude prices rose again above $102 per barrel, and WTI prices jumped more than 3% to $91 per barrel on March 24. Iran responded to President Donald Trump’s allegationsDenying any talks to end the conflict.
As CoinGape reported, Bitcoin rose sharply above $71,000 as oil prices fell about 10% after… Trump postponed planned strikes on Iranian power plants and energy infrastructure for 5 days.
He also claimed that there had been “very good and productive” talks with Iranian officials over the past two days, describing the talks as “in-depth, detailed and constructive.”
Trump extended a previous 48-hour deadline to strike Iranian power plants if unrest in the Strait of Hormuz continues. Iran warned of attacks on energy infrastructure in the Middle East in response to threats and strikes by the United States and Iran.
The United States and Israel bomb energy facilities in Iran despite stopping
Despite Trump’s 5-day pause, the United States and Israel hit Iranian energy facilities in new air strikes. Reports claimed attacks on Isfahan’s natural gas infrastructure and the gas pipeline linked to the Khorramshahr power station.
Iranian media claimed damage to energy facilities, while Israel described these measures as necessary responses in the ongoing conflict. Iran has responded with repeated drone and missile attacks targeting Israel and Gulf states that host US military assets.
BREAKING: The United States and Israel have struck new Iranian energy facilities including a natural gas pipeline belonging to an Iranian power plant in Khorramshahr.
Brent crude prices are approaching $100 per barrel.
– Al Qubaisi Letter (@KobeissiLetter) March 24, 2026
Meanwhile, Saudi Arabia and the United Arab Emirates are moving toward joining the US-Israel war against Iran. The Wall Street Journal reported. Saudi Arabia quietly granted the United States access to King Fahd Air Base after Iran began striking Saudi energy facilities and Riyadh directly.
Crown Prince Mohammed bin Salman is now described as being on the verge of making a decision to officially join the offensive. A source said: “It is only a matter of time before the kingdom enters the war.”
Attacks on energy infrastructure in the Middle East will severely impact global crude oil supplies, with oil prices expected to rise even faster. This could lead to selling pressure on Bitcoin.
Will Bitcoin fall to $68,000?
Bitcoin has jumped 4% in the past 24 hours, and the price is currently trading at $70,911. It rose from a 24-hour low of $67,508 to $71,782 after Trump announced a 5-day shutdown. Moreover, trading volume has increased by 60% in the last 24 hours, indicating high interest among traders.
CoinGlass data showed buying sentiment in the derivatives market. At the time of writing, total open interest in Bitcoin futures jumped 1.80% to $47.88 billion in the past four hours. BTC OI futures on CME and Binance also rose 0.70%.
However, experts like the founder of SkyBridge Capital Anthony Scaramucci warns of a Bitcoin bear market Until the fourth quarter of this year where the four-year cycle remains intact. Furthermore, cryptocurrency analysts highlighted that the BTC Coinbase premium indicator has turned negative again.
