Bitcoin Slips to $83,000 as Trump Rejects Iran Ceasefire Offer

Bitcoin fell to about $83,050 on Monday afternoon in Asia, down 1.6% over 24 hours, according to CoinMarketCap, after trading at around $84,400 for most of the weekend. The decline began during Monday morning trading in Asia. Bitcoin remains up about 1.9% over the past seven days.

Ether fell 1.9% to around $2,646 and is down about 0.9% on the week. XRP dropped 2.2% to $1.48 and Solana slipped 1.2% to about $119, though Solana is still up 6.7% over seven days. The total crypto market capitalisation stood at about $2.86 trillion, down 1.2% on the day, according to CoinMarketCap.

The weekend's main macro development came from the Middle East. Iranian Foreign Minister Abbas Araghchi offered to reopen the Strait of Hormuz within seven days if the US lifted its naval blockade of Iranian ports, waived sanctions on Iranian oil, released about $12 billion in frozen assets and observed a ceasefire that included Lebanon. US President Donald Trump rejected the offer on Saturday, saying "it is what we would have maybe agreed to a year ago." The Wall Street Journal reported that Trump has told aides he expects to resume bombing Iran after the Nov. 3 midterm elections, even as he said he expects mediated talks through Qatar to resume this week. Asked by Fox News whether strikes before the midterms were possible, Trump said: "It's possible, but I just don't want to say that."