As talks between the United States and Iran over the Strait of Hormuz stall, major cryptocurrency prices are also weakening.

As of 8:18 a.m. on the 11th, on CoinMarketCap, a cryptocurrency market tracker, Bitcoin was down 1.63% from 24 hours earlier at $63,933. At the same time, Ethereum was down 2.17% at $1,873. Binance Coin was down 0.92% at $599, and Ripple was down 2.12% at $1.01.

A price chart for coins reflects on the floor where a Bitcoin model is placed at Bithumb Lounge Gangnam Main Branch in Seocho District, Gangnam-gu, Seoul. /Courtesy of News1

Iran is holding to a full reopening of the Strait of Hormuz only if the United States lifts its maritime blockade and sanctions and pays war damages, while separately pursuing safe-passage talks with Oman.

As the two sides face off, Brent crude on the 10th (local time) rose about 5% to $88 per barrel (124,819 won), and combined with Houthi rebel attacks and shrinking Iranian oil exports, pressures on energy and financial markets have grown.

※ This article has been translated by AI. Share your feedback here.