Bitcoin falls after Trump warning to Iran
Bitcoin and ether fell after U.S. President Donald Trump warned Iran that “time is running out,” triggering a rise in oil prices and causing broad liquidations across the cryptocurrency market, according to CoinDesk.
Bitcoin dropped 2.4% to $76,500 after Trump urged Iran to “move quickly.” Ether fell 3.5% to $2,116, its lowest level since April 30, CE Report quotes Kosova Press.
Risk assets weakened across the board, with U.S. stock futures also declining sharply. Brent crude oil prices briefly rose above $112 per barrel.
Altcoins performed worse than the major cryptocurrencies. Bitcoin Cash (BCH) lost 10%, while Dogecoin (DOGE) fell 4.5%, although RUNE and KAIA resisted the broader market downturn.
Bitcoin is a decentralized cryptocurrency that uses peer-to-peer technology and blockchain to record transactions. It was created by Satoshi Nakamoto, and the first block was mined on January 3, 2009.
PHOTO: WHITE HOUSE
