Trump's Diplomatic Move Fails to Boost Bitcoin Amid Dollar Index Surge

The signing of the US-Iran Peace MoU by Trump has sparked hopes for improved relations between the two nations, but its impact on the crypto market is not as positive. Despite the optimistic news, Bitcoin's recovery from recent losses stalled due to a rise in the Dollar Index.

Bitcoin's price dropped 0.88% to $64,068.74 after failing to break above resistance levels. Meanwhile, Ethereum saw a slight increase of 0.16%, with its price reaching $1,748.97. Other major cryptocurrencies such as BNB and USDC also experienced losses.

The Dollar Index's rise has been attributed to increased tensions between the US and other nations, which has led to an appreciation of the US dollar. This development has negatively impacted Bitcoin's price, which is often seen as a store of value against traditional currencies.