Investing.com — slipped on Thursday, trading in a tight range between $77,000 and $78,000 as risk sentiment was hit somewhat by rising tensions between the United States and Iran and growing uncertainty over future peace talks.
The world’s largest cryptocurrency was down 1.2% at $77,862.9 as of 5:18 p.m. ET (9:18 p.m. GMT). It climbed above $79,000 on Wednesday, marking its highest level since early February.
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US-Iranian tensions persist despite ceasefire
Trump extended the ceasefire with Iran on Tuesday, abandoning plans for new military strikes. However, the move failed to ease tensions, with a flurry of naval activity in and around the Strait of Hormuz keeping Washington and Tehran on their toes.
The US military said it had arrested an Iranian-affiliated oil tanker, with the Defense Department releasing footage showing US troops on the ship’s deck in the Indian Ocean. Meanwhile, Iran also revealed a video showing its soldiers boarding a cargo ship near the strait.
Tehran had already attacked three ships in the strait on Wednesday, seizing two of them.
“Iran’s new aggression in the Strait of Hormuz offsets the goodwill generated by Trump’s ceasefire extension,” said Iliya Kalchev, an analyst at Nexo Dispatch.
Uncertainty has grown over the status of peace talks between the United States and Iran, although the Wall Street Journal reported that mediators from Pakistan, Turkey and Egypt were trying to arrange a possible negotiating meeting as early as Friday. Trump told reporters he would not rush to make a deal.
Oil prices posted solid gains Thursday, adding to large weekly gains. Brent crude futures, the global benchmark, surpassed $100 a barrel this week and reached $106 in today’s session.
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