Bitcoin falls below $80,000 amid US-Iran Strait of Hormuz deal rejection and profit-taking.

Bitcoin price dropped below $80,000, trading near $79,840 after reaching $81,705 earlier, due to renewed uncertainty in US-Iran negotiations over the Strait of Hormuz and rising profit-taking following a recent rally. Iranian officials rejected the US proposal to reopen the Strait without reparations for war damage, calling it unrealistic, which heightened market concerns given the Strait's importance to global oil shipments. Despite profit-taking signals from on-chain data, Bitcoin remains near key support levels around $79,000-$80,000, with potential resistance at $86,500. Analysts suggest the price may consolidate before the next move, influenced by geopolitical tensions and trader behavior.