Update (4.17.26 6:43 PM UTC): Article updated with latest BTC prices and rally data.
Iran’s foreign minister announced Friday that the Strait of Hormuz is open to commercial shipping for the remainder of the current ceasefire, triggering swift market moves. Seyed Abbas Araghchi said in an X post that, “In line with the ceasefire in Lebanon, the passage for all commercial vessels through Strait of Hormuz is declared completely open for the remaining period of ceasefire.” U.S. President Donald Trump also confirmed the opening on Truth Social.
The announcement coincided with a rally in Bitcoin (BTC), which climbed above $77,000 — up more than 3.7% over 24 hours and recovering roughly 5% for the week, according to CoinMarketCap and TradingView data. Oil prices moved the other way: Brent crude futures fell about 10%, trading near $85 per barrel, per TradingEconomics.
Analysts say easing geopolitical tensions can revive risk appetite among crypto and equity investors, though the ceasefire between the U.S., Israel and Iran is due to expire on April 22, leaving the potential for renewed escalation. The Kobeissi Letter noted that investors who sold in March appear to be “rushing back into the market,” and highlighted meaningful gains in the S&P 500 over the past three weeks.
Separately, Axios reported that U.S. officials have discussed a proposal to release up to $20 billion in frozen Iranian funds in exchange for Iran surrendering its enriched uranium stockpile — part of a three-page framework under consideration to help end the conflict. President Trump said the U.S. naval blockade would remain “in full force and effect” until the U.S.–Iran transaction is “100% complete,” adding that “most of the points are already negotiated.”
This article aims to provide an accurate and timely summary of market moves and diplomatic developments. Readers are encouraged to verify details independently.