President Donald Trump is privately considering whether to formally declare the US-Iran war over, according to a September 3 Wall Street Journal report. The development lifted Bitcoin on Thursday, while crude oil prices moved lower.
Trump reportedly told advisers that he favors ending the conflict. His administration is assessing the costs of continued military action. The talks have not produced a formal announcement. No final decision was publicly announced during the reported discussions.
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Why Trump Faces Political Pressure to End the US-Iran War
US officials said Trump expects economic pressure to influence Iran’s leadership. They believe it could force Tehran to dismantle its nuclear program. Alternatively, it could contribute to the government’s collapse.
Aides warn that extending the US-Iran war could damage Republican prospects in the midterms. Trump has increased his campaign involvement. He plans to support candidates in 35 contested races.
The discussions followed more strikes across the Middle East. Iran launched retaliatory missiles and drones against American forces. Facilities in Kuwait were reportedly targeted as fighting continued near the Strait of Hormuz.
Several US bases have been attacked by Iranian forces in multiple countries. Washington did not react immediately to the attacks. That restraint supported Bitcoin as traders tracked the US-Iran war.
Washington is worried about growing oil prices. In addition, the number of interceptors is close to zero, which puts pressure on the government and increases the urgency of internal discussions.
What Rubio’s Iran Trade Push Means for the US-Iran War
The Secretary of State Marco Rubio gave separate diplomatic instructions to US embassies. They should persuade other states to cut off trade relations with Iran. This way, Washington expanded its response to military attacks.
Trump said this week that the campaign will not last for a long time. The US-Iran war started with the strikes by the United States and Israel in late February. Several ceasefire attempts, interim agreements, and declarations of an end followed.
Oil prices soared before attacks but pulled back after reports that Trump was mulling over the situation. WTI traded below $91 per barrel on Thursday. Brent crude remained around $95 and saw only minor falls.
Bitcoin Rose Above $78K as Fed Rate Fears Eased
Increasing energy expenses brought worries over inflation and yet another rate hike by the Federal Reserve. Bitcoin, however, gained above $78,000. New York Fed President John Williams said inflation was declining, easing fears of higher rates.
Williams linked the increased Treasuries to the strength of the U.S. economy. He also mentioned investments in AI and technology. His comments supported risk assets amid uncertainty surrounding the US-Iran war.
As of press time, Bitcoin is trading near $78,013, making gains of 0.53% within a few hours. The 24-hour trading volume dropped by 9%, according to CoinMarketCap. Investors continued analyzing whether the US-Iran war could end soon.
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