Bitcoin Dives Below $64k as Iran Deal Uncertainty and Strategy Sales Weigh

Bitcoin prices slid below $64k on Tuesday as investors' risk appetite waned due to uncertainty over a potential U.S.-Iran deal to reopen the Strait of Hormuz.

The crypto's value dropped by 0.5% to $63,658.6, weighed down by Strategy's decision to sell more of its massive Bitcoin holdings.

Strategy, the world's largest holder of Bitcoin, disclosed on Monday that it had sold 1,690 coins for a total of $109 million, marking its fifth sale of Bitcoin this year.

The company has been raising cash to repay its mounting debt and dividend commitments. The proceeds from the sale were used to repurchase preferred stock.