Trump's Iran Strike Pause Boosts Bitcoin Price to $63,500
Bitcoin price rebounded to nearly $63,500 on Sunday after US President Donald Trump announced he was pausing planned military strikes against Iran. The move came after a diplomatic push involving Middle Eastern governments.
The Bitcoin price had fallen to around $62,200 on Saturday as renewed conflict fears put pressure on risk assets. However, it gained approximately $1,500 after Trump's announcement.
Trump stated that the US had prepared for action but agreed to stop the planned attack following requests from Iran and regional governments to pursue an agreement. The proposed framework seeks the immediate reopening of the Strait of Hormuz and a halt to hostilities in exchange for Iran's nuclear programme.
The Bitcoin price movement mirrored the broader crypto market, which rose 0.50% over 24 hours. However, derivatives activity cooled, with total crypto open interest falling by 27% over the same period.