Geopolitical Risks Weigh on Bitcoin
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The US-Iran 60-day ceasefire extension and nuclear talks offer a potential relief for risk assets, including Bitcoin, by reducing the immediate threat of a Strait of Hormuz closure. However, the fragile truce has already been tested by new US military strikes, underscoring persistent macro uncertainty. Until a final deal is reached, Bitcoin remains hostage to geopolitical headlines, with any escalation likely to trigger risk-off moves. The market is pricing in a cautious outlook, as the 30-day window for a final agreement leaves ample room for disruption. Traders should monitor diplomatic developments closely, as a breakthrough could fuel a bullish reversal, while a breakdown may deepen bearish sentiment.
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