A ceasefire that barely made it a month is already gasping for air. President Trump declared the US-Iran ceasefire to be on “massive life support” after rejecting Iran’s latest peace proposal, a move that threatens to unravel the fragile diplomatic progress made in early April and sends fresh shockwaves through crypto markets already on edge.

Bitcoin, which surged past $72,000 on April 8 following the original ceasefire announcement, has since retraced to around $81,000 as tensions re-escalated.

The Treasury crackdown adds a crypto dimension

On April 24, the US Treasury froze $344 million in cryptocurrency assets linked to Iran. It’s a clear signal that Washington views crypto-based sanctions evasion as a…