Bitcoin $62,000 Support Level Threatened, Risky Assets Plunge Following Donald Trump's Declaration to 'Force a Breakthrough' in the Strait of Hormuz

Bitcoin has once again reached a critical testing point, moving past the modest recovery seen in early July. Despite the "digital gold" narrative, Bitcoin is moving in tandem with the sharp decline in risk assets, threatening the psychological support level of $62,000. This is the result of a geopolitical shock that shook the market after former President Donald Trump pledged that the U.S. would directly "run" the currently closed Strait of Hormuz.

On July 13 and 14, 2026, Bitcoin bulls are struggling to defend the $62,000 level. As the stock market opened with a downward trend, investment sentiment in the cryptocurrency market also contracted sharply. This decline is at risk of completely reversing the rebound trend that appeared following the release of sluggish employment data in June.

Bitcoin prices have been under continuous downward pressure since reaching a short-term high of $64,600 on July 7. In particular, immediately after Trump's hardline remarks on July 13, the price was pushed down to a level barely maintaining the $62,000 support line. This contrasts with the optimism formed in early July when U.S. non-farm payroll data fell significantly short of expectations at 57,000, fueling hopes for a Fed rate cut.

The United States will directly run the Strait of Hormuz, which Iran claims to have closed, and will not tolerate any force that interferes with this.

Trump's remarks have added fuel to the tensions that have persisted since the Iranian military declared the closure of the Strait of Hormuz in March 2026. Concerns are growing that this strategic chokepoint, through which approximately one-fifth of the world's oil consumption passes, could become a site of physical conflict. The market reacted immediately, interpreting Trump's use of the word "run" as a de facto intent for military intervention or a forced breakthrough.

Timeline of Escalating Tensions in the Gulf

The Strait of Hormuz crisis, which began in early 2026, has amplified uncertainty in international oil prices and global financial markets. Former President Trump has consistently maintained a hardline stance against Iranian threats, and his recent remarks are an extension of that position. The following are the major events that have occurred this year.

• March 4, 2026: Iranian forces declare the closure of the Strait of Hormuz and threaten to attack passing vessels.
• March 22, 2026: Trump issues a 48-hour ultimatum to Iran to reopen the strait and warns of strikes on power plants.
• July 8, 2026: Trump declares the fragile truce with Iran is 'over,' causing Bitcoin to drop to $62,115.
• July 13, 2026: Trump announces that the U.S. will directly 'operate' the closed strait, accelerating the market shock.

Currently, Bitcoin is strongly exhibiting characteristics of a high-beta risk asset rather than a safe-haven asset. Unlike gold, which shows price resilience during geopolitical crises, Bitcoin tends to decline in synchronization with technology-heavy indices like the Nasdaq. This is because investors are prioritizing the sale of cryptocurrencies to secure liquidity in a market filled with growing uncertainty.

Until early July, the market focused on slowing macro indicators and expected a shift in the Federal Reserve's monetary policy. When June employment data was announced at 57,000, significantly missing the expected 115,000, the possibility of a rate cut increased, and Bitcoin even broke through the $64,000 level. However, as massive negative factors such as the fear of war and energy supply chain disruptions emerged, these macroeconomic positives lost their momentum.

The surge in oil prices caused by the closure of the strait is raising inflationary pressures again, complicating the Federal Reserve's path for interest rate decisions. Rising oil prices stimulate the Consumer Price Index (CPI), which could delay the timing of rate cuts scheduled for the second half of 2026. Consequently, this is expected to act as long-term downward pressure on asset markets, including Bitcoin, by limiting the supply of market liquidity.

The future direction of Bitcoin depends on whether it can hold the $62,000 support level. Technical analysts warn that if this support level breaks, a 'downward tilt' could form, potentially leading to a further price drop to $56,000. Conversely, if geopolitical tensions ease and the $63,800 level is reclaimed, it would signal a halt to the downward trend and a search for a rebound.