By Alex Kozul-Wright

The price of Bitcoin fell early Thursday as lingering tensions in the Middle East weighed on futures markets and other major cryptocurrencies.

The world's largest crypto was down 0.5% to $77,607, according to CoinDesk. Ethereum, the second-biggest cryptos, and popular altcoin XRP fell by 3% and 2.5%, respectively.

Bitcoin hit an 11-week high on Wednesday. The digital currency tends to outperform when investors lean into risk assets, which have been buoyed recently by the prospects of a sustained peace in Iran.

But mediators scrambled to get the diplomatic process back on track late Wednesday, according to The Wall Street Journal, after Iran attacked three ships in the critical Strait of Hormuz.

Together with cryptocurrencies, futures indexes for the S&P 500 and Nasdaq were both down by 0.5% early Thursday.

Still, if a negotiated peace settlement is achieved, investors could jump back into Bitcoin with conviction, driving a sustained breakout. Stay tuned.

Write to Alex Kozul-Wright at alexander.kozul-wright@barrons.com

This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

April 23, 2026 06:02 ET (10:02 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.