Bitcoin deepened its losses on Sunday morning after President Donald Trump stated that the US would move to impose a naval blockade of the Strait of Hormuz after diplomacy talks with Iran failed to produce an agreement over Tehran’s nuclear program.
BTC was trading near $71,000 at press time and continues to face pressure as traders weigh whether the decline signals a deeper correction amid renewed geopolitical concerns.
Altcoins also fell, with Ethereum dropping below $2,200, while the total crypto market capitalization slipped nearly 2%, falling under $2.5 trillion.
Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.
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