Bitcoin Stays Within Tight Range Amid Iran War Uncertainty

Dow Jones21:26

1326 GMT - Bitcoin falls slightly as it continues to trade within a tight range amid uncertainty over the Middle East conflict. Iran and Oman are finalizing a draft agreement to reopen the Strait of Hormuz, The Wall Street Journal reports. "However, there are doubts about whether the U.S. will give the deal the green light as it would hand Iran control of inbound traffic," XM's Raffi Boyadjian says in a note. Moreover, Iran needs to be satisfied the U.S. is meeting its side of the bargain while a full reopening of the Strait requires removing mines, he says. Investors are also exercising caution ahead of Friday's U.S. nonfarm payrolls report which is key for interest-rate expectations. Bitcoin drops 0.6% to $64,493, LSEG data show.

At the request of the copyright holder, you need to log in to view this content

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment