Bitcoin and the broader cryptocurrency market came under pressure Tuesday after the US and Iran exchanged aerial strikes, sending the dollar higher and President Donald Trump said the fragile ceasefire with Iran is over.
BTC, the leading cryptocurrency by market capitalization, slipped to $62,657 in Asian trading hours, down nearly 1% since midnight UTC, according to CoinDesk data. Ether (ETH), XRP (XRP), and solana (SOL) fell between 1% and 2.3%. WTI crude futures jumped more than 2% to $72.27, while the Dollar Index held steady above 101.00, maintaining Tuesday’s gains.
Trump said that the memorandum of understanding and the ceasefire with Iran “is over, as far as I’m concerned.” In a scathing criticism of the Iranian leadership, Trump labelled them “liars,” adding that it’s just a waste of time dealing with them.
The comments came after both nations traded airstrikes.
The U.S. said it launched “powerful strikes” against Iran following attacks on three ships in the Strait of Hormuz, including Qatari and Saudi tankers. In response, Iran said it targeted “85 US military installations” in retaliation for strikes on its Hormozgan and Mahshahr provinces.
