Trump Rejects Iran Ceasefire Plan: Bitcoin Tumbles 3.81%

US President Donald Trump has rejected Iran's proposed seven-day ceasefire plan, according to reports. The plan called for the US to meet its existing commitments first, followed by Iran reopening the Strait of Hormuz on Day 6 and nuclear talks restarting on Day 7.

In exchange, Tehran wanted the US to lift its naval blockade, ease sanctions on Iranian oil exports, and support a regional ceasefire that includes Lebanon. However, Washington believes continued economic pressure could force Tehran to accept a broader deal.

The rejection of the ceasefire plan has put pressure on crypto markets, with Bitcoin falling by 3.81% after reaching $87,395 earlier in the week. The global crypto market cap also fell below $3 trillion.