IREN is trading at $31.98 (-6.19%) as crypto mining stocks face heavy selling pressure following President Trump’s warnings of intensified strikes on Iran.
- Crypto Market Slump: Digital assets are mirroring the broader risk-off sentiment, with BTC down 2.84% and ETH falling 5.14% since the last close.
- Geopolitical Escalation: Sentiment has soured following an April 2 address warning of potential strikes on Iran over the next three weeks, a move expected to keep the Strait of Hormuz closed and drive oil prices higher.