by Sterling Ashworth, Natural News:
The price of Bitcoin surpassed $77,000 early Thursday following announcements from Iran and former U.S. President Donald Trump regarding the reopening of the Strait of Hormuz. The cryptocurrency’s rally was attributed to a reduction in geopolitical risk after Iran declared the critical waterway fully open under a new ceasefire framework.
The surge pushed Bitcoin back toward the $76,000–$78,000 resistance band that has capped major rallies since February, according to market data. The move coincided with a broader rotation into risk assets as oil prices declined on easing supply fears.
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The announcement and subsequent market reaction highlight the increasing sensitivity of digital asset prices to geopolitical developments and traditional energy market dynamics, according to market analysts.
Bitcoin Surges Past $77,000 Following Strait of Hormuz Reopening
Bitcoin price exceeded $77,000 early Thursday, according to market data reported by Bitcoin Magazine [1]. The move followed a statement from Iranian Foreign Minister Abbas Araghchi declaring the Strait of Hormuz completely open under a new ceasefire framework [1]. Former U.S. President Donald Trump amplified the development via social media, stating the strait was “fully open and ready for full passage” [1].
Analysts attributed the rally to a reduction in perceived geopolitical risk, which fueled a rotation into risk assets like cryptocurrencies and technology stocks. The reopening of the critical waterway removed a worst-case scenario for crude oil and global shipping that had been weighing on market sentiment since early March [7].
The price increase pushed Bitcoin back toward a key technical resistance band between $76,000 and $78,000, a level that has capped previous rallies since February [1]. Market observers noted the move was part of a broader risk-on shift across global financial markets.
Geopolitical Announcements Drive Market Sentiment
Iranian Foreign Minister Abbas Araghchi linked the strait’s reopening directly to a 10-day truce between Israel and Hezbollah in Lebanon, framing it as part of a broader effort to align maritime security with de-escalation [1]. The White House has cast a potential settlement with Iran as reachable within days, with former President Trump stating talks could take place this weekend [1].
Former President Donald Trump amplified the development via a social media post, stating the strait was “fully open and ready for full passage” [1]. His comments followed circulating reports of the Iranian announcement and contributed to the positive market narrative regarding reduced geopolitical risk.
