After the United States and Iran agreed to a two-week cease-fire, reports that Iran would accept tolls for passage through the Strait of Hormuz in bitcoin and other cryptocurrencies sent major digital asset prices sharply higher at one point. However, prices have since slipped somewhat as profit-taking increased.
As of 8:05 a.m. on the 9th, on CoinMarketCap, a global coin price tracking site, bitcoin was trading at $70,923, down 0.65% from 24 hours earlier.
Over the same period, Ethereum was down 1.79% at $2,183, and XRP (Ripple) was down 1.99% at $1.34.
News that the United States and Iran agreed to a two-week cease-fire, and that the Iranian regime would accept tolls in cryptocurrencies from oil tankers crossing the Strait of Hormuz, sent cryptocurrency prices soaring at one point. For example, bitcoin surged to $72,825, approaching $73,000.
However, the rally did not last long as profit-taking poured in after the sharp rise.