Bitcoin drops amid ongoing US-Iran tensions

An American official stated that U.S. President Trump is skeptical of Iran’s latest proposal to reopen the Strait of Hormuz. Trump’s remarks suggest that the Iranian side lacks sincerity and is unwilling to meet his key demands of stopping uranium enrichment and pledging never to produce nuclear weapons. Deutsche Bank analysts said in a report: “The market has been seizing on any sign of peace talks, and the absence of any signs has fueled concerns that negotiations may not occur.” Data from the London Stock Exchange Group showed that Bitcoin fell 0.2% to $76,790.