Bitcoin Holds Near Recent Highs as Trump Signals Iran Deal and Hormuz Reopening

Bitcoin traded near its latest highs on Saturday as market attention turned to a series of rapidly changing geopolitical headlines tied to the war between Iran and Israel, a potential peace deal and the possible reopening of the Strait of Hormuz. The move came as President Donald Trump said on Truth Social that an agreement to end the conflict with Iran would be signed on Sunday, while also indicating that the key waterway would open immediately afterward.

The comments added fresh uncertainty to an already unsettled news cycle. According to reports, Trump’s remarks contrasted with Iran’s public stance, which had not confirmed the terms described by the US president. Earlier coverage also noted that Trump was heading to the G7 summit in France, where leaders were expected to focus on the Iran war as well as Russia’s ongoing war against Ukraine. The combination of diplomatic developments and military tensions kept broader markets focused on the Middle East.

Crypto markets reacted by holding firm rather than pulling back. Bitcoin traded above $64,000 on Saturday in CoinDesk’s reporting, while Cointelegraph said the token was nearing $65,000 and remained close to local highs. The reports linked that strength to a mix of improved risk sentiment and expectations that any de-escalation in the conflict could support flows back into risk-sensitive assets. The price action came after a volatile stretch in which traders had been closely tracking headlines from the region.

Analysts quoted in the reports said a peace deal that reopened the Strait of Hormuz could matter for markets beyond energy. Michaël van de Poppe, cited by Cointelegraph, said the reopening of the strait would likely push liquidity back toward risk-on assets, including cryptocurrencies. The reasoning reflects the role of the Strait of Hormuz as a major shipping route and the broader market effect that a reduction in geopolitical pressure can have when investors rotate back into higher-risk positions.

CoinDesk also pointed to support from exchange-traded fund demand. Bitcoin’s move above $64,000 was described as taking place alongside its strongest ETF inflows in a month, suggesting that institutional participation continued to underpin the market even as geopolitics dominated headlines. That combination of inflows and headline-driven optimism helped keep Bitcoin elevated through the weekend session.

The latest price action adds to a pattern seen repeatedly in crypto markets, where macro and geopolitical events can quickly shape sentiment even when the direct link to digital assets is indirect. In this case, traders were digesting both the prospect of a ceasefire-related development and the possibility of reduced disruption around a strategically important trade corridor. For now, Bitcoin’s ability to stay near recent highs suggests the market was treating the news as a constructive, if still fluid, development rather than as a clear resolution.