Investing.com– steadied on Thursday, pausing its recent rally as markets waited to see whether a U.S.-Iran ceasefire would hold amid disagreements over Lebanon and the Strait of Hormuz.
The world’s largest crypto rose sharply earlier this week after the U.S. and Iran signaled openness to a two-week ceasefire and in-person peace talks. But the ceasefire appeared frayed by Thursday, while U.S. President Donald Trump also kept up a harsh rhetoric against Iran.
Bitcoin edged lower 0.1% to $70,746.6 by 10:05 ET (14:05 GMT).
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Beyond the Iran war, focus also remained on a U.S. bill aimed at offering more regulatory clarity for the crypto industry– the CLARITY act. But the bill was far from gaining enough support to clear Congress.
Iran ceasefire in focus as Tehran alleges violations, keeps Hormuz closed
Market focus was squarely on the status of a ceasefire between the U.S. and Iran, especially after Tehran said both the U.S. and Israel had violated several parts of its 10-point proposal.
Iran called for Lebanon to be included in the ceasefire and that Israel cease its hostilities with the country– a demand that was rejected by both the U.S. and Israel.
Tehran was seen keeping the Strait of Hormuz– a key point of focus in the war– largely closed despite earlier signaling some openness to eventually reopening the passage.
Adding to uncertainty over a ceasefire, Trump said on Wednesday evening that the U.S. will maintain its military presence near Iran until a “real agreement” was reached. Trump also repeated calls for Iran to cease its nuclear activities and reopen Hormuz.
Bitcoin and crypto markets had staged a major rally on Wednesday after news of the ceasefire initially broke. But momentum was seen largely slowing by Thursday, with broader risk-driven markets, specifically stocks and currencies, also losing ground.
Iran to demand Bitcoin fees for Hormuz passage- FT
Iran will demand that shipping companies pay tolls in crypto for oil tankers passing through Hormuz, the Financial Times reported.
The FT cited comments from Iran’s Oil, Gas, and Petrochemical Products Exporters’ Union, and reported that vessels attempting to cross Hormuz will be assessed by Iran and be subject to a Bitcoin fee.
Iran effectively blocked the crossing– which supplies about 20% of the world’s oil consumption– in response to U.S. and Israeli hostilities. Washington has repeatedly called on Tehran to reopen the passage as part of a ceasefire deal.
Strategy’s Saylor: Bitcoin has bottomed, quantum risks are overblown
Michael Saylor, executive chairman of Strategy, said Bitcoin price has likely already bottomed, and pushed back on concerns that quantum computing poses a near-term threat to the network.
Saylor attributed the recent drawdown to forced selling by over-leveraged miners and weaker holders, arguing that once that supply clears, the downside becomes limited.
Steady ETF inflows, improving liquidity conditions, and growing corporate treasury demand are factors supporting the price, Saylor said, speaking at a recent Mizuho investor event, and suggested Bitcoin likely bottomed around $60,000.
On quantum computing, he said any credible threat would materialize slowly enough for the network to respond, with Bitcoin’s open-source architecture allowing developers to implement quantum-resistant upgrades well ahead of any practical risk.
Crypto price today: altcoins dither as risk rally cools
Broader crypto prices largely retreated on Thursday, as a risk-on rally from earlier in the week lost momentum.
World no.2 crypto Ether fell 1.3% to $2,166.61, while slid 1.6% to $1.3281.
, , and slipped between 0.3% and 1.5%.
Among memecoins, fell 1.7%, while about 1%.
(Ambar Warrick contributed to this report.)