- Bitcoin surged over 1,000 dollars from daily lows to reach the 74,000 dollar level following the geopolitical breakthrough
- The market rally coincided with a 2 percent drop in WTI crude oil prices which fell below 87 dollars per barrel after the announcement
- President Trump confirmed the lifting of the blockade while demanding that Iran agree to never possess nuclear weapons and allow unrestricted shipping without tolls
- A tentative 60 day ceasefire extension between the United States and Iran has been established to facilitate broader diplomatic negotiations
- Global markets responded positively with the Nasdaq posting modest gains as the reopening of the strategic waterway eases energy supply concerns
Bitcoin reclaims 74,000 dollars as Trump announces end of Strait of Hormuz naval blockade
May 29, 2026, 3:44:16 PM UTC(2 hours ago)
Impact: Very High
Affected Assets
Sources
From:@WatcherGuru
JUST IN: Bitcoin erases losses and reclaims $74,000 after President Trump announces navel blockade in the Strait of Hormuz has ended. https://t.co/GWOs1aE3B5
