Odaily Planet Daily report: Amid a sharp escalation in geopolitical tensions, Bitcoin's price rapidly declined. After U.S. President Trump announced a maritime blockade of the Strait of Hormuz, BTC briefly dropped to approximately $70,900, a 2.5% decline over 24 hours. Previously, U.S. Vice President J.D. Vance stated that U.S.-Iran negotiations failed to reach an agreement on extending the ceasefire, causing market sentiment to turn cautious.
Bitcoin price quickly dropped from above $73,000, where it had been trading for most of Saturday, to around $71,500, and further declined after the lockdown announcement. Analysts believe that tensions in the Strait of Hormuz—a critical global energy transit route—have significantly heightened market risk aversion, pressuring risk assets including cryptocurrencies. (CoinDesk)