Bitcoin drops below $71k after Trump announces blockade of the Strait of Hormuz

MarsBitNews · 2026-04-12T15:19:02+00:00

Due to tense geopolitical tensions, Bitcoin's price dropped rapidly, declining about 2.5%, to a low of $70,900. The market's reaction to the failure of US-Iran negotiations has led to cautious investor sentiment, with risk assets generally under pressure.

MarsBitNews

2026-04-12 15:19:02

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Mars Finance reports that due to the rapid escalation of geopolitical tensions, Bitcoin prices have sharply declined. After U.S. President Trump announced a maritime blockade of the Strait of Hormuz, BTC briefly dropped to around $70,900, a 24-hour decline of approximately 2.5%. Previously, U.S. Vice President J. D. Vance stated that the U.S.-Iran negotiations failed to reach an agreement on extending the ceasefire, and market sentiment has shifted to caution. Bitcoin’s price, which mostly stayed above $73,000 since Saturday, quickly fell back to around $71,500 and further declined after the blockade news was announced. Analysts believe that as the Strait of Hormuz is a critical global energy transportation route, changes in its situation significantly heighten market risk aversion, putting pressure on risk assets including cryptocurrencies.

BTC-0,91%

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