The price of Bitcoin dipped below $69,000 on Thursday after Iranian state media reported that Tehran had rejected a U.S. proposal to end the war, sparking market uncertainty and bruising risk assets.

The world's largest cryptocurrency has dropped by 2.8% to $68,820 over the past 24 hours, according to CoinDesk data. Ethereum and popular alt-coin XRP tumbled, too — by 4.7% and 3.5%, respectively.

"Iran will end the war when it decides to do so and when its own conditions are met," Iran state broadcaster Press TV said, according to The Wall Street Journal.

Trump used social media Thursday morning to warn that negotiations would need to improve soon. For now, it seems tensions remain fraught between the U.S. and Iran.

Though stock markets posted solid gains Wednesday after the announcement of Washington's 15-point peace plan, they were down early Thursday. The S&P 500, for instance, fell by 0.7%.

When he assumed office, Trump was widely seen as a pro-cryptocurrency president. In his second term, he has been an advocate for digital asset regulation and crypto-tied investments.

But digital asset traders are no doubt aware of the impacts higher oil prices linked to the war could wreak on the global economy. A drawn out conflict would almost certainly be bad for Bitcoin.

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

This 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.

source: https://www.tradingview.com/news/DJN_DN20260326002375:0/