US President Donald Trump has signaled that they will continue their military strikes against Iran tonight after he accused Iran of violating the MOU they earlier agreed on. Bitcoin has fallen below the psychological $62,000 level as the US-Iran war escalates again after Trump declared that the ceasefire is over.
US-Iran War Escalates As Trump Warns Of More Strikes Tonight
Speaking at the NATO Summit in Ankara, President Trump said that they will probably hit Iran hard again tonight while acknowledging that they had carried out strikes on Iran last night. “There’s something wrong with these people. For 47 years, they’ve been the bully of the Middle East. It’s very simple: they can’t have a nuclear weapon,” he said.
This follows the president’s statement that the Iran MOU is now over after accusing them of ceasefire violations. President Trump also cast doubts about reaching a permanent deal to end the US-Iran war, which began in February this year.
He accused Iran of lying and cheating, and also cited how Iran has been double-faced in negotiations. He stated that Iran would typically agree to some issues discussed during negotiations and then hold a press conference denying that it had discussed such issues or even agreed to them.
Meanwhile, the president also threatened to take out higher-level targets in what could be a major escalation of the US-Iran war. He also said that they may take over Kharg Island, which is Iran’s major oil hub for exports.
Additionally, President Trump said that the US may reimpose the naval blockade at the Strait of Hormuz only for Iranian ships. It is worth noting that this latest escalation of the US-Iran war began following Iran’s attack on oil tankers in the Strait of Hormuz.
Bitcoin Falls Below $62,000
The Bitcoin price has fallen below the psychological $62,000 level as the US-Iran war escalates again. The leading crypto is currently trading just below this level, down over 2% from an intraday high above $63,000.
Iran has also continued to signal defiance in response to the US threats as it refuses to give up control over the Strait of Hormuz. Iran has maintained that it will impose tolls on ships passing through the waterway despite the US attempts to cajole Iran out of this idea.
Oil prices are rising again on the back of the latest escalation in the US-Iran war, which threatens to disrupt global supply. WTI oil futures are up over 5% today, currently trading at around $74, according to TradingView data.
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