Iran told the International Maritime Organization this week that non-hostile ships can pass through the Strait of Hormuz. That single statement was enough to send Bitcoin back above $70,000 – a level it has struggled to hold as tensions between Washington and Tehran kept traders on edge.
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48 hours of Bitcoin volatility
The ride was not easy. For almost two days, Bitcoin hit the bottom as headlines changed by the hour. US President Donald Trump has threatened to detonate nuclear bombs in Iran. Then he didn’t.
There were reports that there might be peace talks. Tehran denied them. Each article submitted a value. By the time Washington’s official proposal of 15 points leaked through regional media, Bitcoin had risen to $71,100 – up just 0.3% in 24 hours, but the direction was more important than the number.
Declares De facto Ending War with Iran
Trump surprised the world with a tweet that turned the table!President Donald Trump suddenly announced a 5-day deal to negotiate a comprehensive settlement with Iran. He said there is “good and… pic.twitter.com/nrln9EysTo
— khaled mahmoued (@khaledmahmoued1) March 23, 2026
The broader market also felt it. WTI crude fell 5.31% to $87.44 a barrel. Brent crude fell 6.06% to just under $100. Gold rose 2.50% to $4,586.
Risky assets and safe havens moved to different places, and Bitcoin stayed somewhere in between – part speculative bet, part hedge, depending on who was buying.
A Proposal That Moves Prices
Washington presented its offer through Field Marshal Syed Asim Munir, Pakistan’s Chief of Army Staff, who acted as mediator. The program includes 15 points.
According to reports, it is asking Iran to shut down its key nuclear facilities – Natanz, Isfahan, and Fordow – to stop further uranium enrichment, and finally hand it over to the International Atomic Energy Agency.
In return, all applicable sanctions will be lifted with a written guarantee against relegation. The US has also offered to help Iran develop conventional nuclear power plants to generate electricity.
For crypto traders, the details mattered less than the signal. The end of the conflict may have meant lower oil prices, less inflationary pressure, and more risk appetite. Bitcoin responded accordingly.
Tehran’s Denial Keeps Market Speculating
The Iranian government has refused to acknowledge any negotiations taking place. Missile strikes linked to Tehran and allied forces continued as the proposal circulated.
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That conflict – an act of goodwill in the Strait of Hormuz alongside ongoing military action – has left markets in a state of shock.
Bitcoin holdings above $70,000 indicate prudent confidence, not conviction. A single rejection from Tehran could quickly reverse the move. Traders are watching all statements from Iran closely, knowing that the next topic could push prices in either direction.
Featured image from Unsplash, chart from TradingView
