The price of Bitcoin fell early Thursday as lingering tensions in the Middle East weighed on broad market indexes and other cryptocurrencies.

The world's largest crypto was down 1.3% to $77,974, according to CoinDesk. Ethereum, the second-biggest, and popular altcoin XRP fell by 3.1% and 2.1%, respectively.

Crypto-linked stocks also fell in early trading. Strategy — the largest corporate holder of Bitcoin — was down 0.6%, while online trading platform Robinhood fell 2.3% and crypto exchange Coinbase dropped 2.6%.

Bitcoin hit an 11-week high on Wednesday. The digital currency tends to outperform when investors lean into risk assets, which have been buoyed recently by the prospects of a sustained peace in Iran.

But mediators scrambled to get the diplomatic process back on track late Wednesday, according to The Wall Street Journal, after Iran attacked three ships in the critical Strait of Hormuz.

Together with cryptocurrencies, the S&P 500 was down 0.1% while the Nasdaq Composite index dipped 0.3% early Thursday.

Still, if a negotiated peace settlement is achieved, investors could jump back into Bitcoin with conviction, driving a sustained breakout. Stay tuned.

Write to Alex Kozul-Wright at alexander.kozul-wright@barrons.com

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source: https://www.tradingview.com/news/DJN_DN20260423002588:0/