Bitcoin Drops After Trump Says U.S.-Iran Cease-Fire Is Over — Barrons.com

By George GloverBitcoin was sliding on Wednesday after President Donald Trump said that the cease-fire between the U.S. and Iran was over, triggering a slump for risk assets.The world's largest cryptocurrency was down 3.1% to $61,757, putting it on pace for its worst day of the month so far. It was trading more than 50% below the record high it hit in October, per Dow Jones Market Data.Other digital assets were also struggling. Ethereum declined 1.6%, Solana dropped 4.9%, and XRP fell 3.6% over the past 24 hours.The selloff came after Trump signaled that the truce between Washington and Tehran may be done."It's a very interesting question," Trump said at the North Atlantic Treaty Organization's summit in Ankara, Turkey, in response to a question about the cease-fire in the Middle East."To me, I think it's over. I don't want to deal with them anymore," the president added.There's no direct link between cryptocurrencies and the Iran war, but Trump's comments weighed on broader risk sentiment. Futures tracking the tech-heavy Nasdaq 100, which in the past has traded in tandem with Bitcoin and its peers, were 1.2% lower on Wednesday.Crypto stocks also got caught up in the selloff. Digital-asset exchange Coinbase dropped 1.7%, online trading platform Robinhood slid 1.2%, and Bitcoin investor Strategy fell 3.1% in early trading.Write to George Glover at [email protected] 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.