Bitcoin dropped to the $75,000 level, at a time when Eric Trump predicted the digital currency would reach $1 million in the future.

Eric Trump presented an intensely optimistic vision for Bitcoin during his speech at the Bitcoin 2026 Conference, stating that the currency is entering its "greatest era" and affirming his strong conviction that the price will hit $1 million. These remarks came as Bitcoin’s price retreated to approximately $75,000, influenced by the Federal Reserve's decision to hold interest rates steady.

A Turning Point for Bitcoin?

Trump noted that the past six months represented a critical turning point for the currency, explaining that the crypto market structure is shifting with increasing institutional and corporate interest in Bitcoin financing.

He cited the emergence of new financial products, such as Bitcoin-backed mortgages—including programs from companies like Better and Coinbase—as evidence of the digital currency's integration into the traditional financial system.

The highlight of his comments was the prediction that Bitcoin would one day reach $1 million per coin. While he did not provide a precise timeframe, he suggested this could happen by 2030 or 2031, aligning with views that categorize Bitcoin as a scarce asset.

The Reality: Price Pressures

Despite these positive forecasts, current reality points to downward pressure. Data from CoinMarketCap showed Bitcoin's price falling from $78,230 to $75,100 over the past week, briefly dipping to the $75,000 mark before partially recovering.

This decline is attributed to the Federal Reserve’s decision to keep interest rates in the 3.5% to 3.75% range.

In the near term, the price faces resistance at $76,400, followed by a key level at $77,200. If these levels are breached, it could trend toward $78,000. Conversely, failure to break through could see it drop below $75,000 again, potentially reaching $73,500.

Technical Analysis Indicates Downward Trend

Technical indicators are also flashing negative signals. The 13-day Bull/Bear Power indicator showed a reading of -141, placing it in sell territory and reflecting seller dominance in the market.

Additionally, the MACD (12, 26) recorded a level of -150.3, indicating that the 12-day exponential moving average is declining faster than the 26-day average, which reinforces the current bearish trend.

Institutional Adoption vs. Short-Term Volatility

Eric Trump’s statements reflect a clear gap between long-term optimism and current market realities. On one hand, Bitcoin continues to see structural growth driven by increasing institutional adoption, with ETFs seeing billions of dollars in inflows and the currency integrating further into traditional finance.

On the other hand, tight financial conditions continue to weigh on short-term performance, meaning that achieving the $1 million target will require overcoming these immediate challenges while maintaining the momentum of institutional adoption.

Oil prices stabilized on Friday but remained on track for weekly gains as diplomatic efforts to end the war with Iran stalled. Tehran continues its closure of the Strait of Hormuz, while the U.S. Navy maintains restrictions on Iranian oil exports.

Brent crude futures for July delivery rose by 53 cents, or 0.5%, to $110.93 per barrel by 11:24 GMT. Meanwhile, West Texas Intermediate (WTI) futures fell by 56 cents, or 0.5%, to $104.51 per barrel.

Brent is heading for a weekly gain of approximately 5.2%, while U.S. crude is on course for a 10.5% weekly increase. The June Brent contract hit $126.41 per barrel on Thursday—the highest level since March 2022—before closing lower.

Ole Hansen of Saxo Bank noted: "The sharp reversal on Thursday confirms that the market climbs gradually but can fall rapidly on any sudden news of de-escalation, making conditions extremely difficult for traders."

Since the U.S. and Israeli-led offensive on Iran began in late February, oil prices have risen consistently due to the closure of the Strait of Hormuz, which has disrupted nearly one-fifth of the world’s oil and liquefied natural gas (LNG) supplies.

Giovanni Staunovo, an analyst at UBS, stated: "The upward trend for oil prices remains the path of least resistance as long as restrictions on flows through the Strait persist," adding that oil inventories are depleting rapidly due to market supply shortages.

Despite a ceasefire being in effect since April 8, Iranian Foreign Ministry spokesperson Esmaeil Baghaei stated Thursday evening that it is unrealistic to expect quick results from talks with the U.S., according to Iran’s official news agency.

In a related context, Anwar Gargash, advisor to the UAE President, posted on the "X" platform Friday that unilateral arrangements by Iran regarding freedom of navigation in the Strait of Hormuz cannot be trusted, following what he described as "treacherous aggression" against its neighbors.

A senior official in Iran’s Revolutionary Guard threatened Thursday to launch "long and painful strikes" on U.S. sites if Washington resumes its attacks, causing oil prices to spike during the session before retreating later.

U.S. President Donald Trump is scheduled to receive a briefing on plans for a series of new military strikes on Iran aimed at forcing Tehran into negotiations to end the conflict, according to a U.S. official speaking to Reuters.

The U.S. dollar fell against the Japanese yen during Friday’s trading, just one day after a widespread belief that authorities in Tokyo intervened to support the currency.

The dollar declined by as much as 0.66% to hit a session low of 155.60 yen, compared to 157.12 yen earlier in the day.

The yen had surged by approximately 3% on Thursday following steady flows of official buying believed to have pushed the dollar down to 155.5 yen from around 158.3 within an hour. Reports, including from Reuters, described the move as an intervention by Japanese officials.

While the immediate cause for Friday’s movements was not entirely clear, analysts pointed out that markets have entered a state of anticipation and caution following Thursday’s events, bracing for any sudden currency shifts.

Japan's top currency diplomat, Atsushi Mimura, stated earlier on Friday that speculation remains high, issuing an explicit warning that authorities are prepared to return to the market only hours after intervening to support the yen, which has lost about 5% of its value over the past three months.

The Japanese Ministry of Finance could not be reached for immediate comment.

Jeremy Stretch, head of G10 FX strategy at CIBC Capital Markets, said: "Liquidity is thin and investors are on edge after yesterday’s moves, making the market more susceptible to volatility in the USD/JPY pair."

He added: "Every time we see a significant move in the yen, questions will arise regarding the cause, especially in light of recent warnings."

This comes at a time when the significant interest rate differential between the United States and Japan, combined with expectations of lower trading volumes ahead of the holiday period, remains a major concern for authorities regarding potential sharp speculative attacks on the currency.

Gold prices fell in the European market on Friday, resuming a downward trend that briefly paused yesterday. The metal is approaching a four-week low and is on track for its second consecutive weekly loss, driven by rising global oil prices which have heightened fears of inflation and potential interest rate hikes.

Amidst the strongest internal opposition since 1992, the Federal Reserve kept interest rates unchanged for the third consecutive meeting on Wednesday, while warning of elevated inflation caused by energy costs.

Price Overview

*  Gold Prices Today: Gold fell by 1.25% to ($4,564.42), from an opening level of ($4,622.43), after reaching a session high of ($4,635.97).

*   At Thursday’s close, gold prices had risen by 1.75%, marking the first gain in four days as part of a recovery from a four-week low of $4,510.32 per ounce.

Global Oil Prices

Oil prices rose by an average of at least 1% in global markets, resuming their ascent near multi-week highs. This comes amid fears of renewed military confrontations between the United States and Iran and the continued closure of the Strait of Hormuz.

On Thursday, Iran stated it would respond with "long and painful strikes" on U.S. sites if Washington renews its attacks, and reaffirmed its claims over the Strait of Hormuz. Rising global oil prices are renewing concerns about accelerating inflation, which may push global central banks to raise interest rates in the near term—a sharp shift from pre-war expectations of rate cuts or prolonged pauses.

The Federal Reserve

At the conclusion of its third periodic monetary policy meeting this year, and in line with most forecasts, the Federal Reserve maintained interest rates on Wednesday. The Federal Open Market Committee (FOMC) voted 8 to 4 to keep the benchmark federal funds rate at the 3.50% to 3.75% range, the lowest level since September 2022.

The vote saw the largest dissent within the Fed since 1992, as some members no longer believe the central bank should signal a bias toward monetary easing. The policy statement noted that inflation remains "elevated" above the 2% target, impacted by high energy and shipping costs resulting from the naval blockade of Iran and the closure of the Strait of Hormuz.

In his press conference, Fed Chair Jerome Powell admitted that the conflict in the Middle East has created "new inflationary pressures" but stressed that the Fed would not hesitate to raise rates again if oil prices continue to rise.

U.S. Interest Rates

*   Following the meeting, according to the CME FedWatch Tool: Market pricing for the probability of keeping rates unchanged in June stood at 99%, with a 1% probability of a 25-basis-point cut.

*   To refine these probabilities, investors are closely monitoring upcoming U.S. economic data and comments from Federal Reserve officials.

Gold Performance Forecast

Kyle Rodda, an analyst at Capital.com, stated: "Market trading volume will be relatively thin due to public holidays, so we are at a crossroads, or at least waiting for the next catalyst that will cause a change in the market direction."

SPDR Fund

Gold holdings at the SPDR Gold Trust fell by 3.43 metric tons on Thursday, marking the seventh consecutive daily decline. The total dropped to 1,035.77 metric tons, the lowest level since October 16, 2025.