Trump says “You’re welcome” as oil flows and prices dump

Unfortunately for all crypto investors, the digital asset market also fell after Trump’s statement.

US President Donald Trump said on his social media platform Truth Social that oil had started flowing, employment had reached record levels and prices in the US were falling, which would increase affordability.

Although there is some controversy surrounding these latest statements, oil prices are indeed falling, with USOIL falling below $73 per barrel.

The current decline to $73 and just below means USOIL has fallen about 40% since the post-war peak, to nearly $120 a barrel. However, its price has not yet reached its lowest level before the United States and Israel started war against Iran.

Trump also said that Iran “can never have a nuclear weapon,” which will make the world safer, under the Iran-US deal that would have been reached but remains unsigned.

The POTUS also boasted that “stock markets are roaring, employment is at record highs and prices are plummeting (affordability). He explained that the United States is “strong, secure and respected like never before.” He ended his statement with “YOU ARE WELCOME!”

It’s worth noting that the US CPI numbers for the past two months have reached multi-year highs, so falling prices and increasing affordability remain to be seen. The U.S. stock market is near its all-time high, but not quite there.

Bitcoin price, on the other hand, has followed USOIL’s southward trajectory over the past 24 hours. Yesterday’s drop was mainly attributed to the US Fed’s refusal to change rates and the new president’s hawkish stance.

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Today, however, BTC fell again to $63,600 after Trump’s statement went live. Although it immediately rebounded to $64,200, it was halted again and is now well below $64,000.