Trump's Iran War Suggestion Sends Bitcoin Soaring Past $79K

Bitcoin prices surged past $79,000 on Monday as US President Donald Trump suggested an end to the Iran war could be near. The move sent oil prices tumbling, with WTI crude oil falling below $100 per barrel and Brent crude trading at $105.

Trump's statement on Truth Social read, 'The failing Nation of Iran wants to make a deal, quickly and badly. I will determine whether or not the U.S.A. will choose to engage - The concept of which we are open to.'

The US President later doubled down on his prediction of lower oil prices, stating that they would drop like a rock once the military conflict with Iran is over.

Meanwhile, markets have increased the odds of a 25-basis-point Federal Reserve rate hike to more than 90%, up from 59.4% a week ago.