A price chart for coins reflects onto the floor where a Bitcoin model is placed at Bithumb Lounge Gangnam Main Branch in Seocho-gu, Gangnam-gu, Seoul./Courtesy of News1

With tensions in the Middle East spreading without easing, the virtual asset market continues to show weakness.

As of 8:20 a.m. on the 23rd, bitcoin was trading at $68,152, down 2.9% from the previous day. Ethereum was down 3.97% at $2,061, and Ripple was down 3.38% at $1.38.

In particular, the market appears to have been influenced by President Trump's remarks over the weekend. On the 21st (local time), President Trump said on his social media, Truth Social, "If Iran does not fully open the Strait of Hormuz within 48 hours from now without any threats, the United States will devastate Iran's various power plants, starting with the largest power plant."

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