0702 GMT - Bitcoin falls as an ongoing stalemate in the U.S.-Iran conflict lifts oil prices and reduces demand for risky assets. U.S. Defense Secretary Pete Hegseth told reporters Thursday the U.S. could maintain its blockade of Iranian ports indefinitely because the U.S. can rotate ships in and out. "Our concern still remains that there is no easy way out of the current crisis," Jefferies economist Mohit Kumar says in a note. Iran won't give up control over the Strait of Hormuz and the U.S. won't accept Iran charging tolls through the shipping route, he says. Iran has time on its side and has a higher tolerance of economic pain, he says. Bitcoin falls 0.4% to $63,140, 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