Trump Pauses Iran Strikes Amid Oil Price Surge
US President Trump has paused military strikes against Iran after 13 consecutive nights of attacks near the Strait of Hormuz. The decision to hold off on further action comes as diplomatic channels with Tehran remain open, although Trump has emphasized that military options are still available if talks fail.
The pause in hostilities coincided with a significant drop in cryptocurrency markets, with Bitcoin falling 2.3% to below $64,000 and the total market capitalization shedding around $80 billion.
Oil prices have surged past $100 per barrel for the first time since May 2026, driven by escalating tensions in the region.
The US Treasury has seized nearly $500 million in cryptocurrency assets linked to Iranian entities as part of sanctions enforcement efforts.