The EthCC exhibition at Cannes Ethereum blockchain event showcased a split in the cryptocurrency industry, highlighting the tensions between the crypto punk community and traditional financial institutions. Although institutional investment is increasing, concerns about the industry’s ideals have been raised by high ticket prices and sponsor-related controversies. The Ethereum Foundation reaffirmed the crypto punk principles, and future development will depend on how to balance capital and ideas.

BTC OG insider mega-whale agent Garrett Jin analyzes President Trump’s speech, saying it suggests a commitment to a hot war, and that the escalation of the Middle East conflict is already set in stone. He notes that the market hasn’t priced this in, that the near-term rebound is driven by positioning, and that the absence of any solution to the war will continue to weigh on oil supply and raise risks for importing countries. A 6% jump in oil prices reflects the reality of the conflict escalating.

The Middle East war has led to a sluggish market, which could weaken the size of SpaceX’s initial public offering (IPO). Analysts noted that a weak market would limit valuations, even though SpaceX is expected to list in July, with Musk counting on retail investors to boost demand.

Driven by the impact of Trump’s hardline remarks toward Iran, the crypto market weakened, with Bitcoin and Ethereum falling to $66,609 and $2,056, respectively. Market panic sentiment intensified, and the Fear & Greed Index dropped to 8. War risk pushed energy prices up, suppressing the valuations of risk assets, and in the short term volatility in crypto assets could increase.

Gate News, April 2, AT Global Markets chief market analyst Nick Twidale said that there is high expectation for clear information on when the conflict will end, but recent remarks have instead added even more uncertainty. Twidale noted that global markets today could see further downside. He said that the market originally expected an announcement of a ceasefire today, but while the parties involved claim the war will end soon, they also said that they will target Iran over the coming weeks. This message is bearish for the market, implying that the war may continue.

Bitcoin and the cryptocurrency market rebounded on Wednesday after the United Arab Emirates urged the United Nations to use force to reopen the Strait of Hormuz, easing concerns about a war with Iran. The market reacted positively to signs of de-escalation and the U.S. troop withdrawal plan, with the price of Bitcoin rising by more than 1%.

As geopolitical tensions escalate, investors are watching how Bitcoin may perform in a potential Iran war. Historical data shows that market reactions are often limited at the beginning of wars, but Bitcoin typically behaves like a high-risk asset and is susceptible to macroeconomic factors. In the short term, it may fall or stabilize, so investors need to monitor relevant economic indicators and the course of the conflict.

Trump said the United States could end its war with Iran within two to three weeks, with the goal of stopping its nuclear weapons development. It has not yet been determined whether the strait will be reopened. Brent crude oil prices hit a record high, tightening energy supplies and further increasing market attention. Trump handed responsibility for restarting the strait to other countries and plans to explain the Iran issue in a nationwide address. The market is taking a cautious view of how events will unfold.

Goldman Sachs analysts noted that although market volatility in interest rates has been severe since the war in Israel and Iran, the likelihood of rate hikes this year is low. Current supply shocks are limited, and the risk of inflation spillover is smaller. Monetary policy has also reduced the probability of further rate hikes.

Since 2026, the XRP price has been volatile, falling nearly 25% from the beginning of the year, and has remained cautious amid market uncertainty. Despite short-term fluctuations, Ripple is strengthening institutional use cases by testing stablecoins and expanding its business, driving long-term demand. Analysis indicates that XRP has potential upside in the future, and investors need to watch the dynamics between short-term volatility and long-term demand.