Bitcoin Tumbles as Trump Rejects Iran's Ceasefire Plan

US President Donald Trump has rejected Iran's proposed seven-day ceasefire plan, putting further pressure on global markets. The proposal, which was shared through Qatari mediators, would have seen the US meet its existing commitments before Iran reopened the Strait of Hormuz and resumed nuclear talks.

The Iranian Foreign Minister Abbas Araghchi had outlined that Tehran wants the US to lift its naval blockade, ease sanctions on Iranian oil exports, and support a regional ceasefire that includes Lebanon. However, Trump's rejection of the plan has led to a 3.81% drop in Bitcoin, with the market entering a consolidation phase.

According to reports, Washington believes continued economic pressure could force Tehran to accept a broader deal. US officials also remain doubtful that Iran would fully follow through on nuclear and regional commitments, viewing the seven-day plan as only a temporary pause.