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Bitcoin falls 2.5% as US-Iran peace talks fail and US Navy clears mines in Strait of Hormuz

Market News
12 Apr 2026
Bitcoin
View Source
Bearish
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Bitcoin dropped to $71,067 after US-Iran peace talks in Islamabad collapsed due to Iran's refusal to abandon its nuclear program. The US Navy deployed two destroyers to clear Iranian mines in the strategic Strait of Hormuz, a vital route carrying 20% of the world's crude oil. This escalation stranded around 2,000 vessels in the Persian Gulf, causing oil prices to spike and increasing market uncertainty. The outcome of the mine clearance and Iran's response will influence future movements in oil, crypto, and US equities.

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