Bitcoin price news: BTC adds to weekend losses on Trump blockade order
Bitcoin fell below $71,000 after President Trump ordered a blockade of the Strait of Hormuz.Summary
Bitcoin's price experienced further declines over the weekend, dropping below $71,000 following President Trump's announcement of a blockade of the Strait of Hormuz. The order, which directs the U.S. Navy to block ships entering or leaving the strait, came after U.S. and Iranian negotiators failed to reach an extended ceasefire agreement. Bitcoin had been trading above $73,000 on Saturday but quickly fell to around $71,500 after comments from Vice President J.D. Vance regarding the ceasefire talks, and further slid to $70,900 after Trump's blockade order, marking a 2.5% decrease in 24 hours. Despite lingering geopolitical risks, analysts suggest that strong institutional inflows and technical indicators favor a potential rally for Bitcoin, with some predicting a move towards $88,000.
(Source：CoinDesk)