Bitcoin Price Rebounds as Trump Calls Off Iran Strikes and Hints at a Deal

Bitcoin’s price moved higher today, driven by the latest developments on the US-Iran conflict, but this time in the opposite direction.

After slipping to another multi-week low yesterday evening, the cryptocurrency rebounded by approximately $1,500 and now sits at around $63,500. The reason is the major de-escalation announced hours ago by President Trump.

Trump stated on Truth Social that while the US military remains “locked and loaded” to continue attacking Iran, they were asked by Iran and other regional nations to pause the strikes. He said those nations are working on a new deal that would include the “immediate, complete and total opening of the Hormuz Strait, and an end to Iran’s nuclear threat.”

“Based on this request, I have agreed, for the future benefit of the WORLD and, likewise, the survival of a successful and prosperous Iran, to cancel the attack, subject to being able to rapidly make a DEAL. The Country of Israel joins me in this commitment. Get to work, everybody, and get it DONE,” Trump posted.

Bitcoin reacted immediately with a notable rebound. It had dipped to an 18-day low at $62,200 yesterday evening as tensions increased with new planned strikes. Additional factors, such as ETF outflows and technical indicators, had suggested the cryptocurrency could face further decline soon.

For now, war developments appear to have the most significant impact on Bitcoin’s price movements, and each de-escalation brings hope back to the market. The actual impact is likely to be felt on Monday morning, as has happened numerous times in recent weeks.

Source: https://cryptopotato.com/bitcoin-price-rebounds-as-trump-calls-off-iran-strikes-and-hints-at-a-deal/