Bitcoin Surges, Oil Slides as Trump Says Iran Has Announced Strait of Hormuz Reopening
A sudden shift in Middle East tensions sent shockwaves
through global markets, pushing Bitcoin to its highest level in over two months
as traders reacted to signs of a possible breakthrough between the United
States and Iran.
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Total crypto market capitalization rose to about 2.61 trillion dollars, up 3.16% over the past 24 hours, according to CoinMarketCap. Bitcoin gained roughly 3% on the day and 6% over the week, while Ethereum added about 4% daily and 8% weekly, reinforcing the risk‑on shift in majors.
XRP advanced around 3% in 24 hours and 9% over seven days, and Solana posted a more moderate 0.86% daily rise and 5% weekly gain, showing the rally was broad but still led by the largest assets.
Geopolitical Shift Drives Market Reaction
US President Donald Trump said Iran had agreed to reopen the
Strait of Hormuz, a key oil shipping route that had remained disrupted for
weeks. Iranian officials later confirmed the move. Trump added that both sides would cooperate to remove naval
mines from the area, signaling a step toward stabilizing regional trade flows.
He also outlined broader progress in negotiations. According
to Trump, the US and Iran will work together to retrieve Iran’s enriched
uranium, which will be transferred to the United States. He said a broader
peace agreement involving Iran, the US, and Israel is “mostly complete,” with
additional talks expected soon.
Trump further claimed that Iran had agreed to suspend its
nuclear program indefinitely and would not regain access to frozen US-held
funds.
Volatility Returns Across Assets
The geopolitical update did not only impact crypto. It
introduced volatility across global financial markets, as traders recalibrated
risk following weeks of uncertainty tied to the Middle East conflict.
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The reopening of the Strait of Hormuz carries implications
beyond digital assets. It signals potential stability in energy supply routes,
which often influences inflation expectations and broader risk appetite.
Oil prices have equally reacted to the new development. The current benchmarks show WTI crude trading at 83.23 dollars, down about 12.1% on the day, while Brent is at 90.89 dollars, lower by roughly 8.6% in the same period.
On OilPrice.com’s real‑time feed, front‑month WTI is quoted at 93.53 dollars, up 2.45% on the session, and Brent at 98.18 dollars, up 3.42%, highlighting intraday volatility around the Hormuz headlines depending on which tick you anchor to.
This article was written by Jared Kirui at www.financemagnates.com.
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