U.S. President Donald Trump has rejected Iran’s proposed seven-day ceasefire plan and reportedly told close aides that he expects U.S. strikes on Iran to resume after the November 2026 midterm elections.
The news has pressured crypto markets, with Bitcoin falling about 3.81% as the market entered a consolidation phase.
Details of Iran’s 7-Day Ceasefire Proposal
According to reports, Iranian Foreign Minister Abbas Araghchi shared a seven-day ceasefire plan through Qatari mediators. Under the proposal, the U.S. would first meet its existing commitments. Iran would then reopen the Strait of Hormuz on Day 6, with nuclear talks restarting on Day 7.
Iran also offered to restore normal shipping through the Strait and resume talks on its nuclear program.
In return, Tehran wants the U.S. to lift its naval blockade, ease sanctions on Iranian oil exports and support a regional ceasefire that includes Lebanon.
Trump Rejects Iran Ceasefire, Will Bomb
U.S. President Donald Trump has rejected the proposal, with reports pointing to three main reasons.
First, Washington believes continued economic pressure could force Tehran to accept a broader deal. The naval blockade is also limiting Iran’s access to ports and oil revenues.
Second, U.S. officials remain doubtful that Iran would fully follow through on nuclear and regional commitments. Some officials reportedly view the seven-day plan as only a temporary pause that will give the IRGC time to regroup and safely export its oil.
Third, Washington sees less pressure to accept the deal because U.S.-led efforts have already helped keep some oil tankers moving through the region. This reduces the immediate need to lift the naval blockade in exchange for reopening the Strait.
Bitcoin Slides Toward $84K as Tensions Rise
Following the news, the global crypto market cap fell below $3 trillion, while Bitcoin dropped below $84,000 after reaching $87,395 earlier this week.
Despite the pullback, crypto trader Ash Crypto sees the current Bitcoin structure as mirroring the 2022 cycle bottom, followed by the price action before its next major rally.
According to the analysis, Bitcoin first broke out of the $76,000–$80,000 range before rising toward $87,000.
BTC is now testing the $83,000–$84,000 area. Holding the $80,000–$82,000 range could keep the current structure intact. A move back above $87,000 could then open the path toward $92,000.
However, if Bitcoin falls below $80,000, the price could turn lower toward the $76,000 level.
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