Bitcoin (BTC) has gained more than 4% today after US President Donald Trump teased a potential path to peace with Iran.
On Saturday, Trump threatened to bomb and “obliterate” Iran’s power plants if the Middle Eastern country didn’t open the Strait of Hormuz within 48 hours.
By Monday, however, he had pulled back on that threat, announcing a delay on Truth Social.
“I AM PLEASED TO REPORT THAT THE UNITED STATES OF AMERICA, AND THE COUNTRY OF IRAN, HAVE HAD, OVER THE LAST TWO DAYS, VERY GOOD AND PRODUCTIVE CONVERSATIONS REGARDING A COMPLETE AND TOTAL RESOLUTION OF OUR HOSTILITIES IN THE MIDDLE EAST. BASED ON THE TENOR AND TONE OF THESE IN DEPTH, DETAILED, AND CONSTRUCTIVE CONVERSATIONS, WHICH WILL CONTINUE THROUGHOUT THE WEEK, I HAVE INSTRUCTED THE DEPARTMENT OF WAR TO POSTPONE ANY AND ALL MILITARY STRIKES AGAINST IRANIAN POWER PLANTS AND ENERGY INFRASTRUCTURE FOR A FIVE DAY PERIOD, SUBJECT TO THE SUCCESS OF THE ONGOING MEETINGS AND DISCUSSIONS.”
BTC jumped from trading around $68,250 to more than $71,000. Ethereum (ETH) surged from around $2,050 to $2,180, a gain of more than 6%. And the overall crypto market cap is up 2.4% on Monday at time of writing.
The gains materialized despite Iranian officials throwing cold water on Trump’s claims.
Mohammad Bagher Ghalibaf, the speaker of the Iranian Parliament, said on X that “no negotiations” had been held with the US.
“Fake news is used to manipulate the financial and oil markets and escape the quagmire in which the US and Israel are trapped.”
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