U.S. President Donald Trump has provided an update on the U.S.-Iran war, stating that there are no ongoing talks with Iran. He also claimed that the Strait of Hormuz is open and operating despite Iran’s counterclaim. Bitcoin is up today even as uncertainty remains over the Hormuz Strait, with oil prices edging higher.
Trump Says No Talks Ongoing To End U.S.-Iran War
In a Truth Social post, the U.S. president said that there are no talks or conversations going on between the two countries. He added that no talks are scheduled, even as the war approaches the 6-month mark.
“The Naval Blockade remains in full force and effect. The Hormuz Strait is open and operating. All water mines have been removed or detonated,” President Trump said. This follows earlier reports that the two countries were close to extending the 60-day ceasefire after earlier escalations in the U.S.-Iran war last month.
This follows an earlier post in which the president portrayed the Strait of Hormuz as a new U.S. territory. Meanwhile, despite his claims that the Hormuz Strait is open, Iran has maintained that this major oil chokepoint remains closed and that it won’t reopen it until the U.S. meets its interim demands.
President Trump said yesterday that Iran wants to make a deal but that they are unwilling to accept terms that he considers necessary. Uncertainty around a potential deal continues to pressure global markets, especially as the situation in the Strait of Hormuz pressures energy prices and threatens to drive inflation higher.
Bitcoin Rallies To $65,000
Bitcoin rallied to the psychological $65,000 level today despite President Trump’s statement that there are no ongoing talks to end the U.S.-Iran war. The BTC price is currently trading at around $64,700, up from an intraday low below $64,000.
Bitcoin notably broke above $64,000 yesterday after the Bitcoin treasury firm Strategy revealed it didn’t sell any BTC last week, following two consecutive weeks of sales that had put pressure on the leading crypto. Meanwhile, BTC is also up ahead of President Trump’s meeting with crypto executives tomorrow, which could provide optimism around the CLARITY Act.
Inflation fears still linger, with the U.S.-Iran war showing no signs of ending anytime soon. However, data from the top crypto prediction market platform Polymarket shows that the odds of a Fed rate hike have fallen to 49%, down from a recent high above 60%.
Be the first to comment