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BREAKING: <a href="https://jpygbp.com/btc-usd/">Bitcoin</a> snaps back to $74,000 as Trump ends Hormuz naval blockade

Bitcoin’s price has recovered to around $74,000 after former President Trump unexpectedly announced the U.S. would lift its naval blockade of the Strait of Hormuz. This move relieved several weeks of tension in both cryptocurrency and oil markets.

Summary

  • Bitcoin rebounds to roughly $74,000 after Trump ends Hormuz blockade
  • Traders unwind “war premium” as focus shifts back to macro and ETF flows
  • BTC volatility stays elevated after weeks of headline driven price swings

The US President announced the end of the naval blockade in the Strait of Hormuz on Truth Social, causing a ripple effect through cryptocurrency and stock markets globally.

Bitcoin’s price rebounded on Friday, rising back to around $74,000 after Donald Trump announced the U.S. Navy had lifted its blockade of the Strait of Hormuz. This announcement ended a period of uncertainty that had caused significant price swings in Bitcoin since the beginning of April.

This recent shift is a significant change from mid-April, when Bitcoin’s price quickly dropped close to $71,000. This initial drop happened after Trump announced a naval blockade, and oil prices rose due to concerns that a large portion of the world’s oil shipments could be disrupted.

President Trump announced that the U.S. Navy will end its restrictions in the Strait of Hormuz. He is currently meeting with advisors to decide the future of the Iran agreement.

— The Kobeissi Letter (@KobeissiLetter) May 29, 2026

Traders reacted to the lifting of the blockade on Friday by shifting investments back towards riskier assets. This caused a decrease in the extra cost – the ‘war premium’ – that had been added to options for both crude oil and cryptocurrencies. Bitcoin immediately led the recovery, with its price increasing significantly.

Trump blinks on Hormuz

Trump’s recent statement follows weeks of escalating tensions that started when he directed U.S. forces to effectively close the Strait of Hormuz after negotiations with Iran failed in early April. This action quickly caused Bitcoin’s price to drop from around $73,000 to $71,000 and pushed oil prices above $100 a barrel.

During the ongoing conflict, the United States emphasized that ships not belonging to Iran would continue to have free passage, while maintaining pressure on Iranian vessels and ports. This clarification – that the restrictions wouldn’t be a complete blockade – reassured traders and helped Bitcoin’s price recover to over $72,000.

One U.S. report suggests the Biden administration estimated that completely closing the waterway could cost Iran around $500 million each day. This highlights the significant economic consequences for both sides as tensions rose regarding the channel.

Bitcoin’s geopolitical stress test

The recent easing of tensions follows a month of surprising stability for Bitcoin, which consistently bounced back above $70,000 despite escalating conflict in the Middle East. This happened even as political rhetoric intensified, including threats from Trump regarding Iranian power plants and his dismissal of a proposed peace plan as “totally unacceptable.”

Bitcoin prices have recovered to over $74,000 after President Trump announced the end of a naval blockade in the Strait of Hormuz. The price had previously dropped but is now back on the rise following the announcement.

— Watcher.Guru (@WatcherGuru) May 29, 2026

Around mid-April, Bitcoin’s price briefly rose above $74,000. This happened as Iran indicated it would keep the Strait of Hormuz open for shipping and a possible ceasefire began to take effect. Market analysts noted strong buying activity and a realized price near $74,000, suggesting continued, fundamental demand for Bitcoin even with the ongoing geopolitical risks.

Earlier this month, Bitcoin’s price fluctuated wildly around $82,000 after Donald Trump rejected a new proposal from Iran and insisted the existing restrictions would remain in place until a deal was finalized. This announcement caused a rapid series of trades, resulting in roughly $410 million in losses for those betting against Bitcoin in a single day, as the price initially dropped before quickly recovering.

After a recent price increase, the focus in the crypto market is now returning to bigger economic factors and long-term trends that were recently overshadowed by events in the Middle East. These include the amount of money flowing into exchange-traded funds, the upcoming Bitcoin halving which affects supply, and the ongoing discussion about whether Bitcoin acts more like a safe haven asset like gold, or a riskier investment tied to the overall market. Bitcoin’s price is currently fluctuating between $60,000 and $80,000.

Over the past few weeks, crypto.news has been following Bitcoin’s price, noting it stayed around $80,000 after a previous proposal regarding Iran was turned down by Trump. The price also remained stable when Iran announced it would fully reopen the Strait of Hormuz, despite ongoing U.S. restrictions on Iranian ships. Bitcoin’s value has continued to react to each new development in the conflict, fluctuating with every headline.

Now that the recent restrictions on trading have been removed and Bitcoin’s price has recovered to around $74,000, the big question is whether the market can break out of its current, unstable trading pattern. Investors will now be watching for how U.S. policies, such as Trump’s proposed Digital Asset Market Clarity Act, and continued interest from institutional investors, will impact the price of Bitcoin moving forward.

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2026-05-29 18:58