Bitcoin strengthens as Iran reopens Hormuz but Trump keeps crypto-fueled oil squeeze
Iran’s move to fully open the Strait of Hormuz while Donald Trump keeps Iranian shipping blocked has left oil and Bitcoin trading on the topic of a ceasefire.
Summary
- Iran says the Strait of Hormuz is fully open to commercial traffic again.
- Trump vows that the US blockade of Iranian ships and ports will “remain in full force.”
- Bitcoin is holding close to a war zone range as oil traders weigh less in supply.
Iran’s announcement that it has fully opened the Strait of Hormuz has eased fears of a major energy shock, but President Donald Trump’s decision to maintain a US blockade of Iranian shipping and ports has kept the oil and crypto markets afloat. About 20% of the world’s oil usually travels through the tunnel, making it one of the world’s most important energy consumption areas and a major driver of Bitcoin’s (BTC) role as a national hedge.
Iran’s Foreign Minister Abbas Araghchi told X that the waterway is now “fully open” to commercial vessels, signaling Tehran’s determination to restore water flow as a 10-day deal between Israel and Iran-Hezbollah in Lebanon stalls. Trump initially echoed that sentiment, tweeting that Iran had declared that the tide was “fully open and ready to pass fully” before backtracking minutes later and insisting that the blockade would continue “UNTIL OUR DEALING WITH IRAN IS 100% COMPLETED.”
Trump first ordered the blockade against Iran earlier this week after Iran restricted traffic on the road, a move Washington has labeled a violation of the US-Israel-Iran ceasefire agreement on Pakistan. At the time, Trump said the navy would use an “all or nothing” policy, making Hormuz leverage in nuclear negotiations, tank insurance and any attempt by Tehran to monetize exports with strategies such as the reported crypto-denominated price of $1‑per-barrel reported in the previous crypto issue.
Le Monde reports that direct talks between the US and Iran last weekend were unclear, with “sticking points” regarding Iran’s nuclear program and the easing of sanctions, leaving the end of the two-week ceasefire and the normalization of full force unclear. The head of the International Energy Agency earlier warned that the energy shock could worsen if the situation remains closed, and Brent futures have already jumped to $100 per barrel while the movement of tanks is restricted.
Crypto traders have been tracking all of Hormuz’s headlines as a proxy for major risk, with Bitcoin hovering between $68,000 and mid-$70,000 in recent sessions as rumors of peace, toll plans and blockade threats pervade markets. Earlier this month, Iran’s plan to convert Hormuz into a $1‑per-barrel Bitcoin and stablecoin tollbooth briefly shook BTC as investors speculated on a new need for a new structure for the oil supply chain.
In recent days, the prospect of a comprehensive US-Iran agreement fueled bets that Bitcoin could reassess $80,000 if ETF inflows begin and oil falls back to pre-war levels, as described in a separate crypto.news analysis of the truce scenario. For now, the re-opening of Hormuz without a complete reduction of the US keeps both crude and crypto in a holding pattern, with BTC trading as a barometer of whether this agreement turns into a permanent solution or the next leg of the crisis.
Related crypto.news coverage includes Iran’s $1‑per-barrel Bitcoin charge in Hormuz, a broader view of the crypto market as the US threatened to block Iranian access to the port, and a detailed breakdown of how a full nuclear deal could reset Bitcoin’s path back to $80,000.
