Bitcoin and other cryptocurrencies were trading modestly down early Thursday, as investors watched to see if a fragile truce between the U.S. and Iran holds.

Bitcoin was down 1.1% at $70,948. The largest crypto surged on the announcement of a cease-fire on Wednesday but has given up some of its gains after Iran threatened to keep the Strait of Hormuz closed in response to Israeli strikes on Lebanon.

"We believe a retest of the $69,000 — $70,000 level is due before a move higher can commence. If the cease-fire does not hold, we will likely slide to $66,000 if hostilities continue," said Matt Mena, a strategist at 21shares.

Among other cryptos, Ethereum was down 3%, XRP was falling 3.4% and Solana was dropping 2.9%.

Write to Adam Clark at adam.clark@barrons.com

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source: https://www.tradingview.com/news/DJN_DN20260409001576:0/