Bitcoin slides to $71,000 after Trump’s blockade order in Strait of Hormuz
The Block
Bitcoin and other cryptocurrencies declined as U.S.-Iran peace talks collapsed and President Trump ordered a naval blockade in the Strait of Hormuz.Summary
The cryptocurrency market experienced a downturn as peace negotiations between the U.S. and Iran in Islamabad ended without an agreement. Following the collapse of these talks and President Donald Trump's decision to order a naval blockade of the Strait of Hormuz to counter Iranian toll demands, Bitcoin dropped to approximately $71,000. Despite this geopolitical volatility and a broad market decline, analysts remain optimistic due to strong institutional inflows into spot Bitcoin exchange-traded funds.
(Source：The Block)