Cointelegraph4/20/2026Business
Bitcoin drops below $74,000 after US military seizes Iranian cargo ship, pressuring ceasefire
Cryptocurrency erases weekend gains as US-Iran tensions escalate with ceasefire set to expire Wednesday
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- Bitcoin fell below $74,000 on Sunday after the US military seized an Iranian cargo ship, erasing weekend gains and putting pressure on the two-week ceasefire between the two countries set to expire Wednesday.
- Bitcoin had soared above $78,300 late Friday, its highest since early February, but dropped sharply as Iran threatened to close the Strait of Hormuz and the US military opened fire on the vessel.
- US stock futures sank Sunday night while oil futures rose over 4.5% to above $95 a barrel.
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Bitcoin fell below $74,000 on Sunday after the US military seized an Iranian cargo ship, erasing weekend gains and putting pressure on the two-week ceasefire between the two countries set to expire Wednesday. Bitcoin had soared above $78,300 late Friday, its highest since early February, but dropped sharply as Iran threatened to close the Strait of Hormuz and the US military opened fire on the vessel. US stock futures sank Sunday night while oil futures rose over 4.5% to above $95 a barrel.
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This article was originally published by Cointelegraph.
