Bitcoin (BTC) pushed past $77,000 on Friday after Iran reopened the Strait of Hormuz, a move confirmed by Donald Trump and tied to the April 22 US-Iran ceasefire.
Hormuz Reopening Lifts Bitcoin
Trump announced on Truth Social that the Strait of Hormuz is fully open.
Iranian Foreign Minister Abbas Araghchi said commercial vessels could pass through for the remainder of the ceasefire period.
Bitcoin reacted within minutes.
The token climbed above $77,000 and neared $78,000, its highest level since February, and was trading around $77,960 at the time of reporting, up more than 2.5% on the day, CoinMarketCap data showed.
"The Strait will be open for the period of the remaining US-Iran ceasefire, which expires on April 22," Araghchi said.
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Lebanon Ceasefire, Trader Outlook
Tehran long tied any Hormuz decision to a separate deal covering Lebanon.
A 10-day ceasefire between Israel and Lebanon cleared that condition, and the Hormuz announcement followed shortly after.
The strait handles a large share of global oil exports, so any disruption tends to rattle energy and risk markets. Its reopening, traders said, removed one near-term source of uncertainty.
Bitcoin has swung sharply in recent weeks, dipping near $75,000 earlier this week before whales absorbed roughly 10,000 BTC worth $750 million over 96 hours, lifting the market back toward resistance.
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