Bitcoin BTC ($66,440.61) and Ether (ETH), both dropped significantly on Thursday, losing 2.4% of its value since midnight UTC. The drop was caused by U.S. President Donald Trump's comments that the Iran war would continue, which led to a surge in oil prices. Meanwhile, nearly $400 million in futures positions have been liquidated due to margin shortfalls, marking a 17% increase in losses compared to the previous day. Despite this, the 30-day implied volatility indices remain stable, indicating orderly selling in the spot market rather than panic. The worst performing benchmark on Thursday was CoinDesk's DeFi Select Index (DX), which lost 5.9% and 5.5%.