Bitcoin price With the apparent reopening of the Strait of Hormuz, crude oil prices plunged about 10%, pushing oil prices above $76,000 again.
“The passage of all commercial ships through the Strait of Hormuz has been declared fully open for the remainder of the ceasefire,” Iranian Foreign Minister Seyyed Abbas Araghchi said in an X post.
President Trump quickly responded on The Truth Society, thanking Iran for fully reopening.
The news sent WTI crude oil prices down nearly 10% to $85.90 a barrel, about the lowest price since shortly after the war broke out in early March.
Meanwhile, Bitcoin price has risen to $76,400, up $3 in the past 24 hours. U.S. stock index futures rose about 1% across the board.
Why the $76,000 area matters
Bitcoin was trading around $76,000 to $78,000 before the crash on February 5, which caused its price to plummet all the way to $60,000. BTC has exceeded $76,000 several times in recent days, but has been hit by a wave of rapid sell-offs.
Technicians believe that a sustained move above around $77,000 could set the stage for a return to higher levels.
Iran shows more signs of recovery
Separately, Axios reports that the United States and Iran are negotiating a three-page plan to end hostilities. Highlights of the discussion include: The United States releasing $20 billion in frozen funds from Iran in exchange for the country giving up its enriched uranium stockpile.
