Bitcoin Falls Amid Uncertainty over Geopolitics, Crypto Regulation
Dow Jones20:28
1228 GMT - Bitcoin turns lower after reaching a two-week high overnight as it struggles for sustained appreciation amid uncertainty over the Middle East conflict and U.S. crypto regulation. Iran said a deal with Oman on the Strait of Hormuz is near but laid out a set of demands the U.S. must meet before the key shipping route is reopened. Meanwhile, the U.S. Senate started a five-week recess at the weekend without voting on the Clarity Act, which aims to provide a regulatory framework for digital assets. Bitcoin drops 0.1% to $65,044 after rising as high as $65,393 overnight driven by Friday's weak U.S. nonfarm payrolls report dampening expectations for Federal Reserve interest-rate rises, LSEG data show.
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