Bitcoin’s recent rally has started to lose momentum as fresh macro uncertainty adds pressure to risk assets. According to an Odaily report citing Lianhe Zaobao, U.S. President Donald Trump rejected Iran’s latest proposal to reopen the Strait of Hormuz, a development that has added a new layer of uncertainty to the broader market. At the same time, traders are still digesting the Federal Reserve’s rate hike and are preparing for the possibility of another increase in October. After several weeks of gains, Bitcoin’s advance has slowed, even as the asset remains up 28% since Aug. 19. Despite the moderation in price momentum, Bitcoin is still on track for what could be its best quarterly performance since the fourth quarter of 2024.
Bitcoin’s rally has begun to cool as new macro uncertainty puts pressure on risk assets.
According to Odaily, citing Lianhe Zaobao, U.S. President Donald Trump rejected Iran’s latest proposal to reopen the Strait of Hormuz. The report said the development has added fresh macro uncertainty to the market.
After several weeks of gains, Bitcoin has started to lose momentum. Markets are also continuing to digest the Federal Reserve’s rate hike while preparing for the possibility of another increase in October.
Since Aug. 19, Bitcoin has risen 28% and remains on track for its best quarterly performance since the fourth quarter of 2024.
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