Bitcoin slips below $71,000 as Trump orders blockade of Strait of Hormuz
CoinDesk·2h ago·Fear
What Happened
Bitcoin declined to $70,900, down 2.5% in 24 hours, after President Trump announced a U.S. Navy blockade of the Strait of Hormuz. The announcement followed failed U.S.-Iran ceasefire negotiations in Pakistan. Vice President J.D. Vance had announced the negotiation failure Saturday night. Bitcoin had traded above $73,000 earlier Saturday before the geopolitical developments triggered selling pressure across crypto markets.
Key Entities
BitcoinPresident TrumpU.S. NavyStrait of HormuzVice President J.D. VanceIranPakistan