Iran Threatens To Withdraw From Ceasefire If Attacks On Lebanon Continue, Bitcoin Slips

Iran has reportedly threatened to withdraw from the ceasefire agreement if Israel continues to attack Lebanon. This comes just less than a day after the U.S.-Iran ceasefire agreement, while Bitcoin has dropped from its intraday high amid this development.

U.S.-Iran Ceasefire Could Crumble If Attacks On Lebanon Continue

According to Iranian media, Tasnim, Iran will withdraw from the ceasefire agreement if Israel violates the ceasefire and continues its attacks on Lebanon. “If America cannot rein in its rabid dog in the region, Iran will exceptionally help it in this matter! And that, by force,” an informed source told Tasnim.

As Reuters reported, Lebanon is currently seeing one of the most devastating periods since the war started, despite the U.S.-Iran ceasefire. The Israeli army said that it has launched 100 strikes across several locations in Lebanon, including Beirut, the capital city.

Meanwhile, Iran’s Fars reported that Iran has stopped oil tankers passing through the Strait of Hormuz after Israel’s ‘ceasefire breach.’ These developments risk escalating tensions once again, as reopening the Strait of Hormuz was one of the conditions of the ceasefire agreement.

The Bitcoin price has sharply fallen following these recent developments, dropping from an intraday high above $72,000 to below $71,000. The leading crypto is currently trading at around $70,700, down almost 2% today, according to TradingView data.

It is worth noting that there appear to be conflicting views of the U.S.-Iran ceasefire agreement. U.S. President Donald Trump told PBS reporter Liz Landers earlier today that Lebanon isn’t part of the agreement because of Hezbollah forces.

Israeli Prime Minister Benjamin Netanyahu had also earlier said that Lebanon would not be included in the Iran ceasefire deal. However, this is contrary to what Pakistani Prime Minister Shehbaz Sharif said when he announced that the ceasefire would cover “everywhere, including Lebanon and elsewhere.”

Pakistani PM Raises Concerns Of Ceasefire Violations

Pakistani Prime Minister Shehbaz Sharif, who proposed the 2-week U.S.-Iran ceasefire, noted that there have been reports of violations of the ceasefire across the conflict zone. He remarked that this undermines the “spirit of peace” process and urged all parties to exercise restraint and respect for the ceasefire as they agreed upon.

Sharif noted that this is important so that diplomacy can take a lead role in the peaceful settlement of the conflict. Rising tensions could again put downside pressure on crypto prices, especially if oil prices begin to rise again following new disruptions in the Strait of Hormuz.

Iran may also be guilty of violating the U.S.-Iran ceasefire agreement, as Reuters reported Iranian missile and drone attacks against Gulf nations, including Saudi Arabia. However, amid these violations, President Trump said that in-person talks with Iran will happen soon. Pakistani Prime Minister Shehbaz Sharif confirmed that the U.S. and Iranian delegations will arrive in Pakistan for the “Islamabad Talks,” this Friday, April 10.