IBIT is trading 3.2% down today as Bitcoin falls to approximately $69,400, reversing gains from the previous session after Iran rejected a 15-point U.S. peace proposal.
- Geopolitical uncertainty spiked after Iran countered the ceasefire offer with demands for reparations and control of the Strait of Hormuz, triggering a broad risk-off sentiment.
- Escalating Israeli strikes and threats to energy infrastructure have pushed oil prices above $104 per barrel, placing significant downward pressure on both equities and the crypto market.