Bitcoin Falls as Trump's Iran Comments Spark Geopolitical Tensions

Bitcoin prices declined by over 3% to around $61,691 on Wednesday after US President Donald Trump announced that the tentative ceasefire with Iran was over.

This development raised concerns about renewed military conflict between the two countries and sparked a selloff in digital asset markets.

The largest cryptocurrency had been looking stronger in July after a 20% drop in June, its worst month in four years.

However, despite Strategy Inc.'s $216 million Bitcoin sale on Monday, which was met with little reaction from the market, the latest geopolitical tensions have pushed prices down.

Caroline Mauron, co-founder of Orbit Markets, said that Bitcoin took a quick dive after Trump's comments and that the market is likely to remain volatile as the situation develops.