Trump Rejection of Iran Peace Deal Puts Pressure Back on Bitcoin

The price of Bitcoin has been under pressure due to ongoing tensions in the Middle East. US President Donald Trump reportedly rejected Iran's latest peace proposal, which included a seven-day ceasefire and the reopening of the Strait of Hormuz.

This development is significant because it could worsen the situation for BTC, which has seen its price surge past $87,000 in recent days. The rejection of the ceasefire proposal and threat of new attacks may halt Bitcoin's progress, which has gained $20,000 since mid-August.

The US-Iran conflict began in late February, and any major development on the front has impacted BTC's price ever since. Last weekend, the US initiated a new round of attacks against Iran, which retaliated against regional targets. The price of BTC then retreated by a couple of grand after reaching $82,000.