Coinworld News reports that Coinpaper said the price of Bitcoin fell below $71,000 on Monday, with a trading price of approximately $71,040 and a decline of about 3%. This drop was driven by geopolitical tensions between the United States and Iran: Trump said the U.S. Navy will continue to blockade the Strait of Hormuz, while Iran announced it has ended all negotiations with the U.S. and threatened to “completely” block the strait. Reduced exposure to risk assets also caused Ethereum to fall below $2,000. The latest geopolitical developments further include stricter U.S. demands on Iran, involving control over the Strait of Hormuz and the removal of highly enriched uranium.

BTC-6.49%
ETH-7.86%
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GateUser-f4ae43e9
· 22h ago
Iran says they will completely block it; the market is already fleeing in advance.
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Mint-ColoredCalmness
· 06-01 18:41
ETH breaks 2K, knockoff projects collectively lie flat
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LeverageWhisperer
· 06-01 18:05
At times like this, go for spot holding and let contracts self-destruct.
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ApeWithHomework
· 06-01 18:05
A 3% decline is okay; mainly the sentiment has collapsed.
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CheckingEthInTheElevator
· 06-01 18:05
The cryptocurrency world has become a barometer of geopolitical weather, it's outrageous.
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SmallPosition,BigMouth
· 06-01 18:05
Blockade of the strait → soaring oil prices → inflation explosion → rate hike expectations, a closed loop.
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GateUser-e3701961
· 06-01 18:05
Can’t hold 71k, is Hormuz taking the blame?
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