Bitcoin Tops $74,000 as U.S. and Iran Disagree on Draft Deal

Bitcoin climbed above $74,000 on Friday, trading near $74,161 and up about 1.1% over 24 hours, after markets parsed competing U.S. and Iranian descriptions of a draft agreement.

President Trump posted that a draft framework was on the table, writing that Iran must agree never to obtain a nuclear weapon, that the Strait of Hormuz would be reopened without tolls, and that the United States would be allowed to remove buried enriched uranium left after a strike last year. He added that no funds would be transferred until further notice and said he would meet in the Situation Room for a final determination.

Iranian officials issued a point-by-point rebuttal, rejecting several U.S. claims. Tehran demands about $12 billion in frozen assets be released immediately, conditions a ceasefire on a halt to fighting in Lebanon, rejects a requirement for toll-free passage through the Strait of Hormuz, and denies any provision for U.S.-led destruction of buried enriched uranium.

The draft framework also contains a reconstruction package of roughly $300 billion. U.S. negotiators have described the package as an international investment fund, while Iranian officials have characterized it as war reparations. The president’s post did not mention the reconstruction package, a detail that contrasts with his comment that no money would change hands.

Traders have focused on the potential reopening of the Strait of Hormuz, which market participants say could lower oil prices, ease inflationary pressure and free liquidity that has correlated with flows into Bitcoin in recent weeks. Despite the intraday gain, Bitcoin’s seven-day chart showed a decline of about 3.6 percent.

Analysts and traders noted that the draft memorandum’s prospects depend on timelines for releasing frozen assets, the exact terms and enforcement mechanisms of any ceasefire, and clear rules for how a reconstruction fund would be structured and disbursed. Markets remained sensitive to further public statements from either capital.