Bitcoin climbed to $64,506 on Saturday as markets responded to Donald Trump’s claim that a U.S.-Iran peace deal would be signed on Sunday and that the Strait of Hormuz would be “open to all” immediately after, lifting risk sentiment even as Iran disputed the timeline.
What Trump said about Hormuz and why markets reacted
Trump posted on Truth Social that “The Deal is scheduled to get signed tomorrow” and that the Strait of Hormuz would be “OPEN TO ALL” once the agreement was finalized, Axios reported. The announcement pointed to a signing ceremony in Pakistan.
Iran’s foreign ministry spokesperson pushed back, saying no signing would occur on Sunday and that a ceremony could happen “in the coming days” instead, according to AP. The reported framework includes a 60-day negotiation period over Iran’s nuclear program, potential reopening of the Strait of Hormuz, and discussion of phased sanctions relief.
The Strait of Hormuz handles roughly one-fifth of global oil transit. Any credible signal of reopening eases energy-supply anxiety, reduces safe-haven demand, and nudges capital toward risk assets, including crypto.
Key Takeaways
- Trump said a U.S.-Iran deal would be signed Sunday and the Strait of Hormuz would reopen to all traffic immediately.
- Iran denied a Sunday signing, saying an agreement could come “in the coming days.”
- Bitcoin rose 1.21% in 24 hours to $64,506, reflecting a modest risk-relief bid rather than a broad breakout.
Why Bitcoin moved closer to $65,000
Bitcoin was trading at $64,506 at press time, up 1.21% over the prior 24 hours. The move brought BTC within striking distance of the $65,000 level, a round number that often acts as a psychological magnet for both spot buyers and options positioning.
The rally was measured. A Fear and Greed Index reading of 18, classified as “Extreme Fear,” suggests the broader market remains cautious despite the geopolitical headline. Twenty-four-hour trading volume stood at roughly $17.95 billion, with Bitcoin’s market cap near $1.29 trillion.
The combination of extreme fear sentiment and a modest price uptick points to a market where traders are cautiously adding risk exposure on the geopolitical headline rather than committing to a full trend reversal. Firms like Metaplanet, which recently expanded its Bitcoin finance operations in Japan, represent the kind of institutional positioning that can accelerate moves once conviction builds.
What traders should watch next from the peace deal narrative
The most immediate catalyst is whether a signing ceremony actually takes place on Sunday. Trump’s post framed it as imminent, but Iranian officials contradicted that timeline, leaving the market to price probability rather than certainty.
If a deal is confirmed, traders will watch for official language on Hormuz shipping access and the scope of sanctions relief. A concrete reopening could compress oil risk premiums, weakening the dollar and supporting risk assets including Bitcoin. A delay or collapse in talks would likely reverse the relief bid.
Crypto-specific developments could also shape near-term direction. Exchange-level disruptions, such as the recent temporary suspension of USDT Tron withdrawals, remind traders that infrastructure risks persist alongside macro catalysts. Meanwhile, broader adoption signals, like Kraken’s push into FIFA World Cup sponsorship, continue to expand crypto’s mainstream visibility.
With the Fear and Greed Index deep in extreme fear territory, any confirmed de-escalation could trigger outsized positioning shifts. But until a signed agreement materializes, the $65,000 level remains a test of headline-driven momentum rather than fundamental conviction.
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency and digital asset markets carry significant risk. Always do your own research before making decisions.
