After crumbling about 4% late Friday into early Saturday, bitcoin have more than recovered those losses in the last few minutes after President Trump announced an upcoming deal with Iran and other Middle Eastern countries.
“A deal has largely been negotiated subject to completion between the United States, the Islamic Republic of Iran and the various other countries,” Trump wrote in a Truth Social post.
“In addition to many other elements of the agreement, the Strait of Hormuz will be opened,” the president continued.
The news sent bitcoin sharply higher to $76,700 after falling to nearly $74,000 earlier Saturday.
