Bitcoin Jumps 3.7% to $71.5k as Trump's Iran Remarks Lift Risk Appetite
Bitcoin rebounded above $70,000 on Tuesday, as risk appetite returned after U.S. President Donald Trump said the ongoing war with Iran could be over soon. Trump's comments helped calm financial markets that had been rattled by the prospect of a prolonged regional conflict.
The world's largest cryptocurrency was last up 3.7% at $71,426 by 11:04 ET (15:04 GMT), after briefly tumbling to around $65,000 over the previous 24 hours as investors fled riskier assets amid surging oil prices, which stoked global inflation fears.
Trump said the situation could be resolved, though he cautioned that it was unlikely to end this week. He also warned that the U.S. would respond '20 times harder' if Iran attempted to shut the strategically vital Strait of Hormuz, a key route for global oil shipments.