Bitcoin lost momentum after weeks of strong gains as fresh macro uncertainty added pressure to risk assets, according to a report cited by ChainCatcher from Lianhe Zaobao. The latest trigger came after U.S. President Donald Trump rejected Iran’s new proposal to reopen the Strait of Hormuz, a development that fed broader geopolitical concerns. At the same time, markets are still digesting the Federal Reserve’s rate hike and are preparing for another possible increase in October. The combination has cooled sentiment around higher-risk trades, even as Bitcoin remains on track for a strong quarter. Since Aug. 19, Bitcoin has risen 28%, and it is now set for what could be its best quarterly performance since the fourth quarter of 2024. The report frames the current move not as a full reversal, but as a slowdown in upside momentum after a rapid multi-week climb.
Bitcoin’s recent rally is losing steam as a fresh wave of macro uncertainty puts pressure on risk assets, according to Lianhe Zaobao in a report cited by ChainCatcher.
The report said U.S. President Donald Trump rejected Iran’s latest proposal to reopen the Strait of Hormuz. That development added to geopolitical uncertainty at a time when Bitcoin had already begun to cool after several weeks of rapid gains.
Beyond geopolitics, markets are still absorbing the impact of the Federal Reserve’s rate hike and are also preparing for another possible increase in October. Against that backdrop, Bitcoin’s upward momentum has slowed.
Since Aug. 19, Bitcoin has gained 28%. Even so, it is still on track for its best quarterly performance since the fourth quarter of 2024.
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