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Bitcoin falls below $71,000 after US blocks Strait of Hormuz amid failed Iran ceasefire talks

Market News
12 Apr 2026
Coindesk
View Source
Bearish
pluang ai news

Bitcoin prices dropped below $71,000 following President Trump's announcement of a US naval blockade of the Strait of Hormuz. This move came after US and Iranian negotiators failed to extend a ceasefire agreement during talks in Pakistan. The blockade has increased geopolitical tensions, leading to a 2.5% decline in Bitcoin over 24 hours. The situation highlights how geopolitical events can quickly impact cryptocurrency markets, with further volatility expected as the conflict unfolds.

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