President Trump wants you to know the economy is doing just fine. During a White House Small Business Week event in early May 2026, he described the ongoing US military conflict with Iran as a “mini war” and insisted the American economy is “booming now” despite it. He also stated plainly that he does not consider financial implications for Americans when making decisions about Iran.
What the markets actually did
When US military operations against Iran kicked off in late February 2026, Bitcoin dropped 7% almost immediately. It partially recovered afterward, but the damage to leveraged traders was already done.
Crypto market liquidations hit roughly $350 million in a single day during the height of the initial tensions.
The sanctions angle and frozen crypto
