U.S. President Donald Trump accused Iran of a “serious violation” during the ceasefire. Due to this unfavorable geopolitical update, Bitcoin (BTC) could be at risk of another downfall.
Trump Says Iran Has Committed “Serious Violation” of Ceasefire
The U.S. President revealed that Iran opened fire in the Strait of Hormuz, violating the conditions of the ceasefire set to expire on Wednesday, April 22. However, he noted that he’s still hopeful on a peace deal and is pushing for negotiations, per reports.
“It will happen. One way or another. The nice way or the hard way. It’s going to happen,” Trump said, as quoted by ABC News correspondent Karl on X. Earlier, he made a similar statement as Iran had reopened the Strait of Hormuz before closing it again this week.
Nonetheless, things remain uncertain as Trump has threatened to take action against Iran if the talks fail again. Moreover, the situation escalated with Iran’s Ministry of Foreign Affairs spokesperson Esmail Baghaei releasing a statement. He contradicted Trump’s claims by accusing that the U.S. violated the ceasefire.
Bitcoin Faces Greater Risk As Iran Spokesperson Releases Statement
On X, he stated that the U.S. blockade of Iran’s ports and coastline is “not only a violation of Pakistani-mediated ceasefire but also both unlawful and criminal.” In addition, Baghaei noted that “it violates Article 2(4) of the UN Charter.”
Moreover, he believes that the blockade “it constitutes an act of aggression under Article 3(c) of the UN General Assembly Resolution 3314 (1974), which explicitly includes the blockade of a state’s ports or coasts among such acts.”
Moreover, he concluded, “deliberately inflicting collective punishment on the Iranian population, it amounts to war crime and crime against humanity.” The rising geopolitical tensions could weigh on global markets with risk assets like crypto facing the maximum heat.
In such situations, Bitcoin has mostly witnessed a downturn as investors panic. On Sunday, the BTC price fell to $75,510.51 from a high of $76,366.25 amid the ongoing geopolitical uncertainty.
Earlier, as Trump announced that Iran agreed to dismantle its nuclear program, BTC edged higher to over $78,000. Nonetheless, when Iran denied such claims, the crypto market recorded another wave of volatility.
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