After plunging about 4% from Friday night to early Saturday, bitcoin has more than recouped those losses in the past few minutes after President Trump announced an upcoming deal with Iran and other Middle Eastern countries.
“An agreement, subject to completion, has largely been negotiated between the United States of America, the Islamic Republic of Iran, and several 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 up sharply to $76,700 after falling to nearly $74,000 earlier on Saturday.
