Bitcoin Holds Firm as Trump Rejects Iran Ceasefire Proposal
Bitcoin's price has remained steady despite US President Donald Trump rejecting Iran's seven-day ceasefire proposal. The proposal, which was made by Iran's Foreign Minister Abbas Araghchi, aimed to end the war and reopen the Strait of Hormuz.
Data from CoinGlass shows that liquidations across the crypto market reached $255 million on September 26, with Bitcoin recording the highest liquidations of $63 million. However, despite the escalating tensions, Bitcoin's price has not seen a significant drop.
In fact, the iShares Bitcoin Trust by BlackRock recorded $1.16 billion in inflows during the week between September 21 and September 25, while the Fidelity Wise Origin Fund saw inflows of $701 million. This optimism pushed Bitcoin's price to $87,000, but it has since dropped slightly.