Bitcoin Price Falls Below $75K After Trump Says Ceasefire Extension ‘Highly Unlikely’, Strait Of Hormuz To Stay Blocked

• President Donald Trump reportedly said a ceasefire extension with Iran is unlikely without a finalized deal by April 22.
• He added that the U.S. will not reopen the Strait of Hormuz until an agreement is reached.
• Retail sentiment on Stocktwits around Bitcoin cooled off but remained in ‘bullish’ territory.

Bitcoin (BTC) momentarily tumbled to below $75,000 before shooting back up after President Donald Trump reportedly said on Monday that the ceasefire between Iran and the U.S. is “highly unlikely” to be extended if a peace deal is not reached before the April 22 deadline. 

“I’m not going to be rushed into making a bad deal,” he told Bloomberg in an interview. “We’ve got all the time in the world.” Trump added that Vice President JD Vance is scheduled to leave for Pakistan later in the day to resume negotiations that will kick off on Thursday. 

He also stated that the U.S. will not be opening up the Strait of Hormuz until a  peace deal is finalized with Iran. “They want me to open it. The Iranians desperately want it opened. I’m not opening it until a deal is signed,” Trump said.

A separate report by the New York Times stated that the Iranian delegations is making plans to travel to Islamabad on Tuesday for the negotiations, after claiming that it had “no plans” to return to the table earlier in the day.

Bitcoin’s Price Takes A Momentary Dip

Bitcoin’s price fell as much as 1.4% in the last 24 hours to around $74,800 before propping back up to $75,600. On Stocktwits, retail sentiment around the apex cryptocurrency cooled to ‘bullish’ from ‘extremely bullish’ over the past day. Chatter remained at ‘high’ levels.

Some traders on the platform treated the dip as short-lived. One user said Bitcoin “will go much, much higher,” pointing to a weaker dollar, stretched equity valuations, and softer gold and silver prices.

The SPDR Gold Shares ETF (GLD) was down 1.20% in midday trade on Monday, while the iShares Silver Trust (SLV) dropped nearly 2%. Retail sentiment on Stocktwits around GLD improved to ‘neutral’ from ‘bearish’ territory over the past day, while sentiment around SLV trended in the ‘bullish’ zone.

Bitcoin’s price has fallen over 13% this year, while both gold and silver have gained more than 11% year-to-date.

Read also: BTC Price Dropping Another $3,000 Could Wipe Out All Ceasefire Gains, Analyst Warns

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