United States President Donald Trump took credit for an unprecedented attack on the Ghadir Bridge, Iran’s largest bridge, as continued geopolitical tensions kept crypto markets suppressed.
Summary
- Trump claimed responsibility for a strike on Iran’s Ghadir Bridge and warned of further attacks if negotiations fail.
- Escalation fears weighed on crypto markets, with Bitcoin dropping from $67,376 to $66,345 following the announcement.
On April 2, Trump shared a video of part of the newly built 136-metre-high cable-stayed bridge between Tehran and Karaj collapsing.
“The biggest bridge in Iran comes tumbling down, never to be used again,” he wrote on Truth Social, and warned that there would be “much more to follow” if Iran doesn’t negotiate.
“Our Military, the greatest and most powerful (by far!) anywhere in the World, hasn’t even started destroying what’s left in Iran. Bridges next, then Electric Power Plants! New Regime leadership knows what has to be done, and has to be done, FAST!” Trump said in a later post.
The latest attack comes just a day after Trump vowed to hit Iran “extremely hard” over the next two to three weeks. The president also reiterated his threat to destroy Iran’s power plants.
“We are going to hit each and every one of their electric generating plants very hard and probably simultaneously,” and has since doubled down after the latest strike.
Trump also added that a new nuclear deal is “nearing completion,” but authorities in Iran have denied that official talks are underway and have vowed to launch a “devastating” retaliation.
Japan’s Nikkei 225 rose 1.28%, while South Korea’s Kospi climbed 2.91%, moving alongside the S&P 500, which erased its 1.1% intraday loss to close up 0.11% on reports that senior Iranian diplomat Kazem Gharibabadi was drafting a protocol with Oman to oversee transit in the Strait of Hormuz.
Bitcoin was also recovering from recent lows near $65,000, but the bullish euphoria was short-lived as news of attacks saw the flagship crypto falling from an intraday high of $67,376 to $66,345 within hours after the Truth Social post.
If no deal is reached between the two nations, the flagship crypto risks falling below the $65,000 mark, which has been acting as a major support level over the past months.
Losing this level would likely confirm a bearish structural breakdown and could weigh heavily on the broader market.
