BTC Surges Past $72.5K While Trump Announces 'Economic D-Day' Against Iran
The leading cryptocurrency achieved fresh multimonth peaks surpassing $72,500 while equity markets retreated following Washington's warnings of 'economic warfare' targeting Tehran.
Bitcoin (BTC) achieved multimonth peak levels following the opening bell on Wall Street Thursday as equities declined and government bond yields climbed higher amid escalating tensions between Washington and Tehran.
Key points:
- The digital currency extended its strongest performance in 11 weeks, climbing to $72,500 on the Bitstamp exchange.
- Government bond yields experienced turbulence following president Donald Trump's declaration of "economic warfare" intentions toward Iran.
- Market observers in the Bitcoin space are questioning the sustainability of the current price surge.
Government bond yields climb back up following Trump's "economic warfare" promise against Iran
Information from TradingView indicated BTC/USD revisited the $71,000 mark before establishing a fresh 11-week peak at $72,505 on the Bitstamp platform, representing an intraday increase exceeding 4%.
American stock markets commenced trading in negative territory after president Donald Trump issued threats toward Iran involving the "most crushing economic operation ever taken against any country," labeling the initiative "Economic D-Day."
"This will be economic warfare and isolation on an unprecedented scale," the president declared via a Truth Social message expressing dissatisfaction regarding the absence of progress on negotiations concerning the Strait of Hormuz oil transportation corridor.
West Texas Intermediate crude oil climbed to $87.69 per barrel during Thursday's session, marking the highest price point recorded since July 24.
The president's remarks seemed to trigger a reversal in United States government bond yields, which had experienced significant declines during the preceding session after the Treasury Department revealed plans to expand its bond-market liquidity intervention programs to at least double their current size beginning in September.
The 30-year yield dropped to an intraday low of 5.179% before climbing back to 5.266% — representing a 9 basis point gain that virtually eliminated the previous session's decline. The 10-year bond yield similarly reversed its prior day's downward movement.
The Kobeissi Letter expressed skepticism regarding whether the Treasury's intervention measures would prove adequate to stabilize financial markets.
"It's going to take a lot more intervention to tame this beast," the publication stated in an X platform post. The Treasury Department indicated in its official statement that it would reassess the magnitude of debt buyback operations on Nov. 4.
Analysis: Premature to declare Bitcoin bull-market resurgence
Following an approximately $10,000 appreciation over a four-day period, Bitcoin's rally generated doubts among market observers regarding the longevity of its recent momentum.
Through continuous commentary on the X platform, trader and analyst Rekt Capital maintained that BTC/USD must maintain current price levels to effectively counter the prevailing bearish market conditions.
"Bitcoin will need to rally a lot more than what it has produced thus far if price is to invalidate the 'weakening support' idea. At the moment, technicals are pointing to $60k as a weakening macro support," the analyst stated on Thursday.
An additional commentary highlighted that historical four-year BTC price cycle frameworks would permit the establishment of a fresh macro BTC price bottom through the conclusion of 2026.
Meanwhile, Ki Young Ju, CEO of blockchain analytics firm CryptoQuant, identified the emergence of positive buying pressure for Bitcoin across both spot and derivatives trading venues — a development absent from markets since October 2025, when BTC/USD recorded its latest all-time peak of $126,200.
"The scale remains modest, but if this holds for another month, it would be reasonable to conclude that the bear market is over and a new bull cycle has begun," the executive communicated to his X platform audience.
In earlier reporting, Cointelegraph highlighted the absence of robust spot market demand as a critical missing component necessary for achieving a sustainable cryptocurrency market trend reversal.
