Bitcoin has retreated from its $70,000 peak to around $68,000 as President Trump's Tuesday deadline looms for Iran to reopen the Strait of Hormuz. The cryptocurrency erased most weekend gains ahead of the critical diplomatic ultimatum.
President Trump issued stark warnings on Truth Social, stating "A whole civilization will die tonight, never to be brought back again." He called it one of history's most important moments as the 8 p.m. ET deadline approaches.
Vice President J.D. Vance indicated military objectives in Iran have been completed, though tensions remain high with the Strait of Hormuz closure deadline pending.
Traditional markets also show weakness, with U.S. stock index futures poised for lower opens. The Nasdaq 100 faces a 0.65% decline, while WTI crude oil rises 1.7% to $114.22 per barrel amid geopolitical concerns.