Bitcoin, XRP, Ethereum Drop as Iran Rejects Trump Peace Plan. Why War Is Hitting Cryptos. — Barrons.com

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By Alex Kozul-Wright

The price of Bitcoin dipped below $70,000 early Thursday after Iranian state media reported that Tehran had rejected a U.S. proposal to end the war, sparking market uncertainty and bruising risk assets.

The world's largest cryptocurrency has dropped by 1.3% to $69,943 over the past 24 hours, according to CoinDesk data. Ethereum and popular alt-coin XRP tumbled, too — by 2.1% and 2.6%, respectively.

Crypto-linked stocks were also in the red. Coinbase — a digital currency exchange — fell 0.1%, while brokerage firm Robinhood dipped 0.3% in after-hours trading.

"Iran will end the war when it decides to do so and when its own conditions are met," Iran state broadcaster Press TV said, according to The Wall Street Journal.

Though stock markets posted solid gains Wednesday after the announcement of Washington's 15-point peace plan, they were down early Thursday. Futures tied to the S&P 500 index were falling 0.4%.

Digital asset traders are no doubt aware of the potential impacts higher oil prices linked to the war could wreak on the global economy. A swift end to the conflict would almost certainly be a boon for Bitcoin.

Write to Alex Kozul-Wright at alexander.kozul-wright@barrons.com

This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.
source: https://www.tradingview.com/news/DJN_DN20260326002375:0/