Cryptocurrency markets climbed roughly 2.5% after mixed signals from U.S. President Donald Trump about negotiations with Iran that could reopen the strategic Strait of Hormuz and potentially lead to a ceasefire. The upbeat market reaction followed a series of public statements and social-media posts from Trump that combined threats with optimism about a near-term deal.
In a strongly worded post on Truth Social, Trump warned Iran it would be “living in hell” if the strait remained closed. He also told Fox News that Iran was “negotiating now” and that there was a “good chance” a deal could be reached within 24 hours. Earlier he had given Iran a 10-day window to reopen the strait; a subsequent post suggested Iran had until Tuesday to comply or face strikes on power plants and bridges.
The immediate market impact was pronounced: the total crypto market capitalization rose by about $70 billion to an 11-day high near $2.44 trillion in early Monday trading. Bitcoin briefly traded around $69,500 on Coinbase, according to TradingView. The rapid move also produced volatility-driven liquidations: CoinGlass data shows roughly $255 million in liquidations over a 24-hour period, about 73% of which were short positions.
The comments come after more than a month of conflict in the region, which has pushed global oil prices higher and stoked recession concerns. An Axios report said the U.S., Iran and regional mediators are discussing terms for a 45-day ceasefire that could lead to an end of hostilities — a development that would explain the mixed messages from Washington.
Crude oil traded near $112 per barrel Monday morning after the strait’s partial closure tightened supply concerns. The Kobeissi Letter warned that if elevated oil prices persist for another seven weeks, U.S. CPI-related inflation could rise to about 3.7%. It also estimated Americans have paid roughly an extra $240 million per day for fuel since the conflict began on Feb. 28.
This report was produced under Cointelegraph’s editorial standards. Readers are encouraged to verify evolving developments independently, as diplomatic negotiations and market reactions can change quickly.