The U.S. has indicated that it doesn’t plan to invade Iran anytime soon, allaying fears that the U.S. could soon deploy troops into Iran. This development comes amid a crypto market crash, with crypto prices falling to new lows despite reported peace talks between the U.S. and Iran.
U.S. Not Considering Immediate Iran Invasion as Crypto Market Crashes
According to a Bloomberg report, the Trump administration has signaled to allies that it has no immediate plans for a ground invasion in Iran, citing people familiar with the matter. This comes despite the recent moves to deploy more troops to the Middle East, which had raised fears about an imminent invasion of Iran.
However, these sources warned that U.S. President Donald Trump could still change his mind at any moment and go ahead with the attack. This comes amid today’s crypto market crash, with Trump’s decision to delay strikes on Iran until April 6 failing to calm the markets.
The crypto market briefly climbed following reports that the U.S. signaled it wasn’t planning to invade Iran anytime soon. However, crypto prices have since edged lower, with the Bitcoin price falling to a new intraday low of $65,000.
The total crypto market cap has now dropped to $2.25 trillion, down over 3% today, according to TradingView data. It is worth noting that the crypto market crash has also come amid Iran’s statement today, declaring that the Strait of Hormuz remains closed.
Amid the crypto market crash, market participants are also watching for a potential response from Iran to the U.S. proposal to end the war. Iran’s response is expected today, while CBS reported that White House officials are cautiously optimistic that talks with Iran are progressing.
Iran War To Continue For Weeks, Not Months
U.S. Secretary of State Marco Rubio reportedly told the G7 Foreign Ministers that the Iran war would continue for two to four weeks and would not last for months, contrary to some speculations. Rubio also mentioned that they can achieve their objectives without a ground invasion.
However, crypto market participants are betting that there won’t be a ceasefire until at least May. There is currently only a 40% chance of a U.S.-Iran ceasefire by April 30, according to Polymarket data.
Tensions could continue to escalate between the U.S and Iran, especially with the latest Israeli strikes on Iran’s major steel plants. This move threatens to put further pressure on crypto prices and extend the crypto market crash. In an X post, Iranian Foreign Minister Abbas Araghchi noted that Israel said that it carried out these strikes in coordination with the U.S.
He added that the attacks contradict Trump’s extended deadline for diplomacy. “Iran will exact HEAVY price for Israeli crimes,” Araghchi said.
