Cryptocurrencies fall, Bitcoin trades above $74,000

Cryptocurrencies 

Cryptocurrencies declined on Monday, as investors exercised caution following escalating tensions between the US and Iran over the past weekend.

 

Bitcoin fell by 0.8% to $74,413 as of 09:28 AM Makkah time. Ethereum also dropped nearly 1.04% to $2,275.8, while Ripple declined by 0.41% to $1,405.

 

This pullback came after President Trump announced that the US Navy had seized an Iranian-flagged cargo ship, alongside Iran’s refusal to participate in a second round of peace talks with the US.

 

The Strait of Hormuz is a vital waterway for global oil supplies, and any disruption there directly impacts global energy prices and investor risk appetite.

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