Uptrend Loses Steam, Bitcoin Cools Off Under Macroeconomic Uncertainty

Odaily News — U.S. President Trump rejected Iran's latest proposal to reopen the Strait of Hormuz, with new macroeconomic uncertainties putting pressure on risk assets. After weeks of gains, Bitcoin's rally is slowing, as the market continues to digest the Federal Reserve's rate hikes and braces for another possible rate increase in October; since August 19, Bitcoin has risen 28%, on track for its best quarterly performance since the fourth quarter of 2024. (Lianhe Zaobao)