Bitcoin retreats after reaching 12-week high

Cryptocurrencies 

Bitcoin fell on Monday after rising earlier to near its highest level in 12 weeks, amid anticipation of the latest developments between the US and Iran.

 

A report indicated that Iran had presented a new proposal to the US to reopen the Strait of Hormuz, end the war, and postpone nuclear negotiations.

 

Bitcoin declined 0.64% to $77,741 at 9:55 am Makkah time after earlier reaching $79,488, its highest level since January 31.

 

Meanwhile, Ethereum, the second-largest cryptocurrency by market capitalization, fell 1.91% to $2,322.47, and Ripple dropped 0.69% to $1.4183.

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