Bitcoin’s weekend rally largely reversed ahead of President Trump’s Tuesday deadline for Iran to reopen the Strait of Hormuz
U.S. President Donald Trump (Library of Congress on Unsplash/Modified by CoinDesk)Bitcoin, which had surged above $70,000 on Monday, has retreated to the $68,000 range as the clock ticks down to President Trump’s Tuesday deadline for Iran to reopen the Strait of Hormuz. BTC$68,399.76
«A whole civilization will die tonight, never to be brought back again,» Trump declared in a Tuesday morning Truth Social Post. «I don’t want that to happen, but it probably will,» he added, calling it «one of the most important moments in the long and complex history of the world.»
Amid falling crypto prices, U.S. stock index futures are set to open lower, with the Nasdaq 100 leading the decline at 0.65%. Meanwhile, WTI crude oil prices have risen 1.7% to $114.22 per barrel.
Market declines were somewhat mitigated by remarks from Vice President J.D. Vance, who reaffirmed the 8 pm ET deadline but stated that the military objectives of the Iran conflict have been achieved.
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