Bitcoin Slumps as Trump Rejects Iran Ceasefire Offer

Bitcoin's price fell to around $83,050 on Monday afternoon in Asia after trading at about $84,400 over the weekend. The decline began during morning trading in Asia and resulted in a 1.6% drop over the past 24 hours, according to CoinMarketCap. Despite this, Bitcoin remains up 1.9% over the past seven days.

Ether followed suit with a 1.9% drop to around $2,646, while XRP fell by 2.2% to $1.48 and Solana slipped 1.2% to about $119. However, Solana is still up 6.7% over the same period.

The total crypto market capitalization stands at approximately $2.86 trillion, down 1.2% on the day. This decline comes as US President Donald Trump rejected an offer from Iranian Foreign Minister Abbas Araghchi to reopen the Strait of Hormuz in exchange for lifting naval blockades and sanctions relief.