What to know:
- After a bumpy start that saw Bitcoin dip like a toddler learning to walk, it bounced back once Trump announced a “peace” deal with Iran.
- One of the deal’s perks, according to Trump, is the reopening of the Strait of Hormuz-because nothing says “global stability” like keeping shipping lanes open.
Picture this: a gentle Friday slump of about 4% on Bitcoin, followed by an early Saturday plunge, and then-voila!-as if on cue from a national drama-Trump drops the headline “Iran peace agreement” and Bitcoin shows up, higher than a barista’s espresso shot.
“An Agreement has been largely negotiated, subject to finalization between the United States of America, the Islamic Republic of Iran, and the various other Countries,” Trump posted, presumably as if tweeting from a high-powered think tank rather than a personal account.
He continued, “In addition to many other elements of the Agreement, the Strait of Hormuz will be opened.” Readers could just imagine him holding up a keycard less a bit where he says the deal is more about “peace” than a dive down the option of nuclear diplomacy.
The cryptocurrency traders, ever glad for news that moves the market, surged Bitcoin to $76,700, ignoring that it had dipped to around $74,000 a few hours earlier-like a cat clicking on a stale mouse.
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2026-05-24 00:02