Bitcoin turns lower, erasing overnight gains

Although the United States and Iran have reached a ceasefire agreement, and Iran has also restricted the number of ships passing through this critical energy chokepoint, the Strait of Hormuz remains effectively stalled. Citing Israel's continued attacks on Lebanon, Iran prompted U.S. President Trump to urge Israel to scale back its offensive. Israel has agreed to begin direct negotiations with Lebanon, which are tentatively scheduled for next week. According to data from London Stock Exchange Group, Bitcoin fell 0.8% to $71,820 after reaching a three-week high of $73,067 overnight.