Bitcoin fell below $75,000 on Wednesday following renewed geopolitical tensions. The collapse was sparked by conflicting messages regarding the alleged deal between the US and Iran.
Bitcoin falls amid war tensions between the United States and Iran
the Bitcoin price The price reached an intraday low of $74,571.56, before rising slightly, according to TradingView data. At the time of writing, Bitcoin was trading at around $75,129. It still represents a decline of about 1% over the past 24 hours despite the slight increase.
Meanwhile, the market capitalization of BTC has reached approximately $1.5 trillion. Moreover, it showed a trading volume of over $32 billion per day with high selling pressure.
The decline in Bitcoin arose after the markets were hit by reports from Iranian state television, which led to controversy. Iranian media indicated that Tehran and Washington were as well Approaching a peace agreement To help defuse the situation after months of conflict in the region.
The report stated that the so-called memorandum of understanding proposed restoring commercial shipping activity in the Strait of Hormuz within a month. The draft also reportedly contained provisions allowing the United States to withdraw its forces from Iran’s immediate vicinity. Moreover, it demands that the United States lift the naval blockade.
Iranian state media said the measure was still unofficial and incomplete. Moreover, she indicated that Tehran would not move forward without “tangible verification.”
The radio said that if the negotiations succeed, the final agreement could be formalized within 60 days in the UN Security Council. But the White House was quick to reject the idea of an agreement with Iran.
What did the United States say?
In a statement issued on Wednesday, US officials completely ignored the report. they male“This report by the Iranian-controlled media is incorrect and the memorandum of understanding they ‘issued’ is completely fabricated.”
The statement went on to say: “No one should believe what Iranian state media publishes. Facts are important.”
The US administration said that Washington had not concluded any agreement with Tehran. US President Donald Trump said that the United States is not “satisfied” with any proposed agreement. This led to decline Bitcoin price today.
The framework was reported to be a result of ongoing indirect negotiations between Washington and Tehran that are said to have begun after the recent conflict between Iran and Israel this year. However, shipping in the Gulf region has been affected by the conflict and fears of wider instability have been raised in global energy and financial markets.
