Trump demands unconditional surrender from Iran: Bitcoin drops 5%, oil shoots to 90 dollars

President Trump has further increased tensions around Iran. On Truth Social he stated that there will be no negotiations and demanded an “unconditional surrender”. Oil prices immediately shot up to $90 per barrel, the highest level in years. The Bitcoin price fell 5% to about $68,800.

Oil at $90, Nasdaq almost 2% lower

The reaction on the markets followed almost immediately after Trump’s statements. The price of American oil rose towards 90 dollars per barrel. Futures on the Nasdaq fell about 1.8% and the broader crypto market also came under pressure.

Higher oil prices fuel inflation concerns and make it more difficult for the Federal Reserve to cut interest rates. This directly affects risky investments such as shares and crypto.

Jobs report makes the picture even bleaker

At the same time, weak economic data emerged from the US. The jobs report shows that the economy lost 92,000 jobs in February, while economists expected growth. Unemployment rose slightly to 4.4%.

According to economist Heather Long, the pattern is broader than one bad report. Since April 2025, the US has lost net jobs. A total of around 19,000 jobs disappeared between May 2025 and February 2026. Companies are becoming increasingly cautious due to economic uncertainty, rising costs and geopolitical tensions.

Federal Reserve is stuck

Normally, weak labor market data would prompt the Fed to cut interest rates. But inflation is still above the 2% target and rising oil prices could further increase that pressure.

The market therefore hardly expects it. The chance of an interest rate cut in March is around 4%. The chance for April is estimated at around 17%. The combination of geopolitical tension, high oil prices and a stalled interest rate policy is causing additional volatility in the crypto market for the time being.