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(Editor’s note, April 18 – This article has been updated to include the latest cryptocurrency prices)
US President Donald Trump took to Truth Social to announce that the Strait of Hormuz is now fully open for passage — a declaration that came hours after Iran’s Foreign Minister, Abbas Araghchi, confirmed the waterway would be unblocked for all commercial vessels during the remaining period of the US-Iran ceasefire.
Trump Weighs In As Bitcoin Climbs
Bitcoin reacted fast. The leading cryptocurrency jumped sharply after Araghchi’s announcement and rose above $78,000 — its highest mark since February.
At the time of reporting, it was trading around $78,151, up nearly 5% on the day, according to CoinMarketCap data.
Trump had expressed optimism the previous day that the war with Iran would soon end. His Truth Social post citing Iran’s announcement added weight to what was already a significant shift in the region’s security posture.
“The Strait will be open for the period of the remaining US-Iran ceasefire, which expires on April 22,” Foreign Minister Abbas Araghchi said.
The ceasefire between the US and Iran has a hard deadline — April 22. The Strait reopening is tied to that window, and Iran’s Ports and Maritime Organization has already announced a coordinated route that vessels will be required to follow.
Lebanon Deal Unlocks The Wider Equation
The decision to reopen the Strait did not happen in isolation. Iran had long maintained that Lebanon was part of the conditions it agreed to in its ceasefire with the US.
When Israel and Lebanon struck a 10-day ceasefire deal, it cleared a key condition for Iran to act. The Lebanon agreement, in effect, opened the door for the Hormuz announcement.
That chain of events — Lebanon deal, then Hormuz reopening, then Bitcoin rally — unfolded within a compressed period, catching markets mid-session. The crypto market responded across the board, with broader sentiment lifted by reduced tensions in the Middle East.
The Strait of Hormuz is one of the world’s most critical shipping lanes. A significant share of global oil exports passes through it. Any closure or threat of closure tends to rattle energy markets and risk assets alike. Its reopening, even on a temporary basis, removes one source of uncertainty for traders.
What Happens After April 22?
The current arrangement has a short shelf life. The ceasefire between the US and Iran expires in five days. Whether it gets extended — and whether the Strait remains open past that point — depends on negotiations that are still ongoing.
Reports indicate that Iran views the Lebanon ceasefire as validation of its broader position in the talks. A resolution to the wider conflict, if reached, would likely be seen as a positive signal for Bitcoin and the broader crypto market. For now, the price reaction suggests traders are pricing in a degree of cautious optimism.
No formal extension to the US-Iran ceasefire has been announced.
Featured image from SeaTradeMaritimeNews, chart from TradingView
