BTC dropped below $68,000 minutes ago, erasing most of this week’s gains.
Bitcoin’s impressive rise to $74,000 earlier this week came as somewhat expected, and the asset has since lost as much as $6,000, before falling to $68,000 today.
The latest rate hike followed Friday’s U.S. jobs report and a new set of Trump threats against Iran and Cuba.
The report, released today, shows that the country lost 92,000 jobs in February and the unemployment rate reached 4.4%. This meant that the country’s labor market remained unchanged last month, which was contrary to the expectations of experts. Prior to the release of the report, most expected that the US had gained about 60,000 jobs last month.
The second reason behind the price correction today may be related to the new POTUS statement. At first, he threatened Cuba, indicating that the country’s regime “will soon collapse.”
He added that the US is currently focused on the war against Iran, but that they want to get a “bad deal” and suggested that Marco Rubio could handle the negotiations with Cuba.
In addition, when discussing the situation with Iran, Trump said that there will be no deal with this Middle Eastern country. Instead, he wanted “unconditional surrender.”
Analysts of the Kobeissi Letter described similar developments last year, however, when the US attacked Iran again. At the time, POTUS issued the same firm statement on his social media platform, but the two sides reached an agreement just six days later.
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Today, President Trump called for the “unconditional surrender of Iran”.
The last time we observed this event was on June 17, 2025.
Six days later, on June 23, a ceasefire was declared.
Will history repeat itself on March 12? pic.twitter.com/2NxZ6rxBKY
— Kobeissi Letter (@KobeissiLetter) March 6, 2026
Unlike BTC, which is down 4% in the last 24 hours, US oil prices have surged past $92 per barrel in the past few hours following Trump’s remarks. USOIL is now trading at its highest level since September 2023.
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