Bitcoin (BTC) Price: Iran Deal Hopes Lift Markets as BTC Recovers From Five-Week Low

TLDR

• Bitcoin fell to a five-week low of $74,250 on Saturday before recovering
• Trump announced a peace deal with Iran was “largely negotiated”
• The deal includes reopening the Strait of Hormuz, which had weighed on risk assets
• Crypto markets recovered around $75 billion in total market cap on the news
• BTC remains down 39% from its October peak and is still in a downtrend

Bitcoin dropped sharply on Saturday, hitting a five-week low of $74,250 on Coinbase before bouncing back after a major geopolitical announcement from US President Donald Trump.

Trump posted on his Truth Social platform that a peace agreement with Iran had been “largely negotiated.” The deal involves the United States, Iran, and several Middle Eastern countries including Saudi Arabia, the UAE, Qatar, Pakistan, Turkey, Egypt, Jordan, and Bahrain.

As part of the deal, Trump said the Strait of Hormuz would be reopened. The waterway had been closed since the conflict began in late February, putting pressure on global energy prices and weighing on risk assets like crypto.

Crypto markets responded quickly. Total market capitalization recovered around $75 billion following the news.

Bitcoin climbed back from its $74,250 low to tap the 50-day exponential moving average at $77,000 in early Sunday trading. At the time of writing, BTC was sitting at around $76,800.

ETF Flows Raised Red Flags Before the Drop

Crypto analyst Daan Crypto Trades flagged something worth noting ahead of the weekend selloff. Writing on X, he pointed out that Bitcoin saw well over $1 billion in spot ETF outflows during the week — and that price held up relatively well until Friday and Saturday.

That divergence between outflows and price stability may have been an early signal of what was coming.

Where BTC Stands Now

Despite the bounce, Bitcoin is still in a downtrend. It has failed to break resistance at $82,000 and remains down 39% from its October all-time high.

Crude oil prices dipped on the de-escalation hopes. WTI dropped to $96 and Brent Crude fell to $103, though both remain around 55% higher than pre-conflict levels.

The monthly BTC candle is currently red with one week left to close.

The post Bitcoin (BTC) Price: Iran Deal Hopes Lift Markets as BTC Recovers From Five-Week Low appeared first on CoinCentral.