Bitcoin Slumps Below $64K Amid Hormuz Deal Uncertainty

Bitcoin's price dipped below $64k on Tuesday as risk appetite waned due to uncertainty over a potential US-Iran deal to reopen the Strait of Hormuz.

The crypto's value fell by 0.5% to $63,658.6, and Strategy, the world's largest holder of Bitcoin, disclosed that it had sold 1,690 BTC for a total of $109 million on Monday.

The proceeds from the sale were used to repurchase 1.15 million shares of Strategy's preferred stock.

Riot, a major Bitcoin miner, signed a $9 billion deal with AI lab Anthropic to provide computing power, which is expected to play out over the next 20 years and overshadow its recent quarterly loss.