Iran recently assured the International Maritime Organization that ships not involved in hostile activities would be allowed safe passage through the Strait of Hormuz. This announcement was enough to push Bitcoin’s price back over $70,000, a mark it had been having trouble maintaining due to ongoing concerns about conflict between the U.S. and Iran.
A Volatile 48 Hours For Bitcoin
Bitcoin’s price had a bumpy ride for about two days, fluctuating wildly with rapidly changing news. Initially, US President Donald Trump threatened military action against Iran’s power plants, but he later backed down.
News began circulating about potential peace negotiations, but Tehran quickly dismissed the reports. Each new development affected the price of Bitcoin. When a 15-point proposal from Washington was made public through regional news outlets, Bitcoin reached $71,100. While the 24-hour increase was only 0.3%, the upward trend was more significant than the exact percentage.
President Trump unexpectedly announced a halt to potential military conflict with Iran via a tweet, taking many by surprise.
President Donald Trump has suddenly announced a 5-day truce in exchange for negotiations toward a comprehensive solution with Iran. He stated that there were “good and…
— khaled mahmoued (@khaledmahmoued1) March 23, 2026
The overall market reacted as well. The price of WTI crude oil decreased by 5.31% to $87.44 per barrel, and Brent crude fell 6.06% to just under $100. Meanwhile, gold prices increased by 2.50% to $4,586.
Risky investments and safer ones behaved differently, with Bitcoin falling into a middle ground. Some people saw it as a gamble, while others viewed it as a protection against market uncertainty, depending on who was purchasing it.
The Proposal That Moved Prices
I learned that the United States communicated their proposal through Pakistan’s Chief of Army Staff, Field Marshal Syed Asim Munir – he acted as the intermediary. The proposal itself consists of fifteen key points.
Reports indicate the request asks Iran to close its main nuclear sites – Natanz, Isfahan, and Fordow – stop enriching uranium, and ultimately give its current uranium supply to the International Atomic Energy Agency.
As part of the agreement, all current sanctions against Iran would be removed, and there would be a written promise that they wouldn’t be put back in place. The United States has also proposed assisting Iran in building nuclear power plants for peaceful electricity production.
Crypto traders weren’t focused on the specifics of the situation, but rather the overall message. The possibility of the conflict ending suggested lower oil prices, reduced inflation, and a greater willingness to invest in riskier assets. As a result, Bitcoin’s price increased.
Tehran’s Denial Keeps The Market Guessing
The Iranian government denies any talks are currently happening. Despite this, missile attacks believed to be connected to Iran and its allies have continued.
The confusing mix of offering a friendly gesture in the Strait of Hormuz while still taking military action has caused markets to pause and wait for clearer signals.
Bitcoin staying above $70,000 suggests a hesitant optimism, rather than strong belief in further gains. A negative development from Iran could quickly reverse this upward trend. Traders are carefully monitoring news from Iran, as any announcement could significantly impact Bitcoin’s price, sending it either up or down.
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2026-03-25 11:30