During Monday’s trading, markets saw a downturn amid investor caution following escalating tensions between the United States and Iran over the weekend.
Bitcoin recorded a 0.8% drop to reach $74,413 at 9:28 AM Mecca time. Ethereum also fell by 1.04% to $2,275.8, while Ripple declined by 0.41% to $1.4052.
This decline comes after President Trump announced that the U.S. Navy had seized an Iranian vessel, while Iran refused to participate in a second round of peace talks with the United States.
The Strait of Hormuz is a vital route for global oil supplies, and any disruption there directly impacts global energy prices and, consequently, investor risk appetite.
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