Українська
Русский
English
Bitcoin dips to $71k as US-Iran talks fall through, Hormuz blockade looms
Bitcoin fell on Monday, extending weekend losses after risk appetite was battered by the U.S. and Iran making little headway in ceasefire talks, with Washington now pursuing a naval blockade of Tehran.
The world’s largest cryptocurrency fell 0.9% to $71,022.5 by 06:30 GMT, reversing course after news of the ceasefire talks spurred some gains last week.
Bitcoin dithers as US-Iran talks fall through
Sentiment was dented by the talks resulting in little de-escalation. U.S. President Donald Trump ordered a blockade of the Strait of Hormuz in response, although Central Command clarified that the blockade will primarily target Iran’s ports and ships.
The blockade is set to take effect from 10:00 ET and is likely to herald more military action in the Middle East. A blockade in Hormuz also points to more disruptions in global shipping and energy markets.
While disruptions in shipping and energy have little direct impact on crypto, they stand to disrupt global economic growth– a scenario that can hurt risk sentiment and in turn dent appetite for speculative assets.
Risk appetite was also dented by U.S. consumer price index inflation showing a sharp increase in March, largely due to higher energy prices stemming from the Iran war.
Bhutan sells 70% of Bitcoin stash
Bhutan has sold about 70% of its Bitcoin holdings since October 2024, data from Arkham Intelligence showed last week.
The country now holds about 3,954 Bitcoin worth about $280.6 million, well below its peak holdings of about 13,000 Bitcoin seen in late-2024. At its peak, the country held about $1.4 billion worth of Bitcoin.
The reason behind the sale was not immediately clear. The status of Bhutan’s Bitcoin mining operations also appeared to be unclear, recent media reports showed.
Crypto price today: altcoins dither as Iran jitters persist
Broader crypto prices moved in a flat-to-low range as uncertainty over the Iran war kept traders squarely to the sidelines.
World no.2 crypto Ether fell 0.8% to $2,197.73, while XRP rose 0.4% to $1.3352.
Solana, Cardano, and BNB moved in a tight range and less than 1.5% apiece.
Among memecoins, Dogecoin and $TRUMP were both flat.
See also: "Bitcoin Holds at $71,000 After Failed Negotiations"
