Bitcoin Slides Below $62,000 as Trump Declares Iran Ceasefire ‘Over’

Bitcoin fell more than 3% on Wednesday to around $61,500, after President Donald Trump said the fragile US ceasefire with Iran was over. Ether and Solana dropped with it as traders pulled back from risk. Oil rose about 5%, with US crude climbing to near $77 a barrel.

“For me, I think it’s over,” Trump said at the NATO Summit, following U.S. attacks on Iran in response to attacks on cargo ships in the Strait of Hormuz. “As far as I’m concerned it’s just a waste of time.”

Bitcoin had gained roughly 5.5% in July, recovering from a bruising June, before Wednesday’s slide erased much of that progress. The asset has pared some of Wednesday’s losses to most recently trade just shy of $63,000, more than 50% below the record above $126,000 it set last October.

The U.S. has since completed another round of attacks on Iran following Trump’s remarks at the NATO Summit. Trump has threatened more attacks if Iran continued to attack ships in the Strait.

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