Bitcoin Price Soared Past $78K as Trump Says Iran Agreed to Halt Nuclear Program
With nearly seven weeks into the warfare within the Middle East, the 2 important sides, the US and Iran, introduced some main de-escalation information on Friday, which included the reopening of the Strait of Hormuz and a few progress on the peace speak entrance.
This resulted in fast volatility in all monetary markets, with BTC surging to a 10-week peak of over $78,000. The altcoins adopted swimsuit, leading to rising liquidations.
De-Escalation
It all started a number of hours in the past when the US President Donald Trump announced that Iran had agreed to reopen the Strait of Hormuz, which was later confirmed by officers of the Middle Eastern nation. Shortly after, the POTUS defined that Iran and the US will work collectively to get the mines out of the Strait.
Additionally, he famous that each nations will get better Iran’s enriched uranium, which can be despatched again to the US. Trump added {that a} everlasting peace deal between the US/Israel, and Iran is “principally full,” and extra talks will “most likely” be held this weekend as most factors have been finalized.
Lastly, Trump claimed that Iran had agreed to “droop its nuclear program indefinitely” and wouldn’t obtain any frozen funds from the US.
BREAKING: President Trump says Iran has agreed to droop its nuclear program indefinitely, and won’t obtain any frozen funds from the US, per Bloomberg.
Details embrace:
1. Trump says {that a} deal to finish the warfare between the US/Israel and Iran is now “principally full”
2.…
— The Kobeissi Letter (@KobeissiLetter) April 17, 2026
BTC Price Taps $78K
Bitcoin reacted instantly to the information in regards to the reopening of the Strait of Hormuz, surging towards $77,000. The subsequent developments pushed it even additional, and it tapped $78,400 minutes in the past for the primary time since February 4.
Although it was stopped there and now sits under $78,000, BTC continues to be 5% up on the day, and greater than 7% greater than this time final Friday. Many altcoins, such as ETH and XRP, have marked 5%+ positive aspects as nicely, which has pushed the full crypto market cap to over $2.7 trillion.
Data from CoinGlass reveals that greater than $810 million value of leveraged positions have been worn out prior to now day, with longs answerable for the lion’s share ($663 million). The single-largest liquidation came about on Hyperliquid and was value nearly $16 million.
In distinction, USOIL is down by 12% prior to now day as it dipped under $80 earlier for the primary time in 5 weeks.
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