Bitcoin Rebounds as Trump Signals Largely Negotiated Iran Peace

On May 23, President Trump posted that a peace memorandum with Iran was “largely negotiated,” and cryptocurrency markets moved sharply after the statement. Bitcoin recovered to about $77,000 after earlier falling below $75,000.

Bitcoin traded roughly 1.4% higher over 24 hours after the rebound from a one-month low. Smaller cryptocurrencies outperformed Bitcoin as traders increased exposure to riskier assets during the session.

Trump wrote that talks had produced a “Memorandum of Understanding pertaining to PEACE” and said the Strait of Hormuz would be reopened under the agreement. He listed calls with leaders of Saudi Arabia, the United Arab Emirates, Qatar, Pakistan, Türkiye, Egypt, Jordan and Bahrain, and noted a separate call with Israeli Prime Minister Benjamin Netanyahu.

NEAR Protocol led gains among major altcoins, rising 14.8% over 24 hours and more than 62% for the week. Worldcoin climbed 8.7% on the day and over 26% for the week. Privacy-focused Zcash increased 8.8% in 24 hours and nearly 28% for the seven-day period. Other notable rises included Ondo up 8.5%, Morpho up 7.8% and Hyperliquid up 6.3%.

Market participants pointed to the potential reopening of the Strait of Hormuz as a factor in reduced near-term risk to oil and energy flows. Disruption of the strait has been a major source of volatility for global asset prices.

Analysts said the price response depends on whether the memorandum moves from public statements to an enforceable agreement. Outstanding issues cited by market observers include sanctions relief, limits or inspections related to Iran’s nuclear program, guarantees against renewed attacks, and mechanisms to enforce a reopening of the Strait of Hormuz.

Following the post, crypto prices reacted with a recovery in Bitcoin and larger gains across a range of altcoins.