Bitcoin rebounds $1K as Trump lifts Iran blockade, crude drops 2%

Bitcoin rebounded sharply on Friday, recovering about $1,000 from earlier lows to trade near $73,500, after President Donald Trump announced the lifting of the naval blockade of the Strait of Hormuz and signaled progress on an Iran peace deal.

In a Truth Social post, Trump said he was meeting in the "Situation Room" to make "a final determination" on the Iran peace deal and that the naval blockade of the Strait of Hormuz would be lifted. The news sent WTI crude oil down more than 2%, falling below $87 per barrel, while U.S. stocks turned modestly positive, with the Nasdaq up 0.2%. Bitcoin, which had been under pressure earlier in the session, joined the risk-on move, rising from around $72,500 to $73,500.

The move underscores bitcoin's growing sensitivity to geopolitical and macroeconomic developments, particularly those affecting energy prices and risk sentiment. Lower oil prices can ease inflation concerns, potentially reducing the need for aggressive monetary tightening by central banks, which tends to support risk assets including cryptocurrencies. For traders monitoring these dynamics, NowPrice's crypto page provides real-time pricing across major digital assets.

Looking ahead, market participants will watch for further details on the Iran negotiations and any additional policy announcements from the Trump administration. The two-month winning streak for bitcoin remains in jeopardy, however, as the cryptocurrency is still down from its recent highs. Traders will also keep an eye on U.S. economic data and Federal Reserve commentary for clues on the interest rate path, which could influence crypto demand in the coming weeks.