Bitcoin Falls to $63K Lows After Trump Speech & New US Strikes on Iran

Bitcoin (BTC) dipped to around $63K and US stocks extended losses on Friday, as the US launched new strikes Iran. Volatility and uncertainty increased as President Trump accused China of interfering with the 2020 US elections in his speech, sparking calls to pass the SAVE America Act before the US midterm election.

Bitcoin Slips as the US Launched Major Strikes on Iran

The Central Command confirmed major strikes against Iran, marking the sixth consecutive night of strikes. US forces hit many Iranian military targets such as coastal surveillance and air defense sites, military logistics infrastructure, and maritime capabilities.

Reports claimed the US targeted Iranian infrastructure, hitting the Bandar Khamir overpass bridge connecting Bandar Abbas to Lar, the Gariveh Bridge, a third bridge in Hormozgan Province, and a major railway station west of Bandar Abbas connecting to the Shahid Rajaei port.

Iran launched strikes on Qatar in retaliation, with initial reports of impact on the US Al Udeid Air Base. Iranian attacks are ongoing across Gulf countries such as Bahrain, Jordan, Kuwait, and Iraq.

White House spokesperson Karoline Leavitt earlier said “Iran very much continues to talk to the United States of America and express that they want to make a deal with us because they are suffering devastating blows on behalf of our United States military.”

These developments contributed to a spike in the US dollar index (DXY) to 100.79 and oil prices to $80 per barrel on July 17. This caused Bitcoin price to slip to $63K lows and US stock futures to fall further.

However, BlackRock CEO Larry Fink recently claimed Bitcoin price is stable around these levels and he is bullish on the crypto market for the next 12 months.

Trump Speech Reveals China’s Interference in 2020 US Elections

President Donald Trump delivered a primetime address from the White House focused on election security ahead of the November midterms. He accused China of interfering with US elections in 2020, causing Bitcoin and risk assets to slip due to rising uncertainty.

Trump highlighted declassified intelligence alleging Chinese meddling, claiming “the largest compromise of election data in history” by stealing 220 million US voter files containing personal details like names, addresses, and other sensitive data.

Trump attacked Democrats, the media, US government agencies such as FBI and DOJ, and others in his speech. He called for stronger measures, including passage of the SAVE America Act for voter ID and citizenship proof requirements. Trump’s speech revived debates over 2020 election integrity.

Democrats including Chuck Schumer, Jim McGovern, Elizabeth Warren, and Bernie Sanders slammed Trump for conspiracy theories about the 2020 elections instead of working on inflation, housing, healthcare, climate crisis, and other issues.

This president sadly wallows in grievance, vengeance, and conspiracy while Americans want their leaders to boldly tackle persistent inflation, expensive groceries, rising gas prices, and terrible cuts to affordable healthcare.

We Democrats are engaged in doing exactly that, and…

— Chuck Schumer (@SenSchumer) July 17, 2026

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