Bitcoin heads higher as President Trump announces Iran peace agreement
Key takeaways
- "An Agreement has been largely negotiated, subject to finalization between the United States of America, the Islamic Republic of Iran, and the various other Countries," wrote Trump in a Truth Social post.
- "In addition to many other elements of the Agreement, the Strait of Hormuz will be opened," the president continued.
- The news sent bitcoin sharply higher to $76,700 after having fallen to nearly $74,000 earlier on Saturday.
Published May 23, 2026, 8:52 p.m. 1 min read Make preferred on Bitcoin gains as Trump announces Middle East agreement (Library of Congress on Unsplash/Modified by CoinDesk)What to know: Down sharply earlier Saturday, bitcoin moved to gains on the day after President Trump announced a peace agreement with Iran and other Middle Eastern countries.As part of the deal, Trump said, the Strait of Hormuz will be reopened.After crumbling about 4% late Friday into early Saturday, bitcoin BTC$74,703.02 has more than retraced those losses in the past few minutes after President Trump announced a coming agreement with Iran and other Middle Eastern countries.
"An Agreement has been largely negotiated, subject to finalization between the United States of America, the Islamic Republic of Iran, and the various other Countries," wrote Trump in a Truth Social post.
"In addition to many other elements of the Agreement, the Strait of Hormuz will be opened," the president continued.