Bitcoin steadies as Iran reopens Hormuz but Trump keeps crypto‑fuelled oil squeeze

Iran’s move to fully reopen the Strait of Hormuz while Donald Trump keeps Iran’s ships under blockade has left oil and Bitcoin trading the ceasefire headline by headline.

Iran’s announcement that it has fully reopened the Strait of Hormuz has eased the worst energy shock fears, but President Donald Trump’s decision to maintain a US naval blockade on Iranian ships and ports has kept oil and crypto markets on edge. Around 20% of the world’s oil normally moves through the strait, making it one of the most important chokepoints for global energy and a key macro driver for Bitcoin’s (BTC) role as a geopolitical hedge.

Iranian Foreign Minister Abbas Araghchi said on X that the waterway is now “fully open” to commercial vessels, signaling Tehran’s willingness to restore flows even as a fragile 10‑day truce between Israel and Iran‑backed Hezbollah in Lebanon holds. Trump initially echoed that tone, posting that Iran had declared the strait “fully open and ready for full passage” before reversing minutes later and insisting the blockade will continue “UNTIL SUCH TIME AS OUR TRANSACTION WITH IRAN IS 100% COMPLETE.”

Hormuz reopening meets unresolved U.S. blockade

Trump first ordered the blockade earlier this week after Iran partially restricted traffic through the strait, a move Washington framed as a breach of the Pakistan‑brokered ceasefire between the US, Israel and Iran. At the time, Trump said the navy would enforce an “all or none” policy, effectively turning Hormuz into leverage over nuclear talks, tanker insurance and any attempt by Tehran to monetize exports via schemes such as the mooted $1‑per‑barrel crypto‑denominated toll reported in an earlier crypto.news story.

Le Monde reports that direct talks between the US and Iran last weekend were inconclusive, with “sticking points” around Iran’s nuclear program and sanctions relief, leaving the fate of the two‑week ceasefire and full energy normalization unclear. The head of the International Energy Agency previously warned that energy shocks could intensify if the strait stayed shut, and Brent futures had already jumped toward $100 per barrel while tanker traffic was constrained.

Crypto traders have been tracking every Hormuz headline as a proxy for macro risk, with Bitcoin oscillating between roughly $68,000 and the mid‑$70,000s in recent sessions as peace rumors, toll plans and blockade threats ricocheted across markets. Earlier this month, Iran’s plan to turn Hormuz into a $1‑per‑barrel Bitcoin and stablecoin tollbooth briefly jolted BTC higher as investors speculated about new structural demand for on‑chain settlement of oil flows.

In recent days, hopes of a broader US‑Iran deal have fueled bets that Bitcoin could retest $80,000 if ETF inflows resume and oil drops back toward pre‑war levels, as outlined in a separate crypto.news analysis of ceasefire scenarios. For now, the reopening of Hormuz without full US de‑escalation keeps both crude and crypto in a holding pattern, with BTC trading as a barometer of whether this truce turns into a lasting settlement or the next leg of the crisis.

Related crypto.news coverage includes Iran’s $1‑per‑barrel Bitcoin toll at Hormuz, the broader crypto market outlook as the US threatened to block Iranian access to the strait, and a detailed breakdown of how a full nuclear deal could reset Bitcoin’s path back toward $80,000.