Crypto Jumps 2.5% Amid Trump-Iran Deadline Threats

Cryptocurrencies experienced a 2.5% increase in value as former US President Donald Trump delivered mixed messages concerning a potential agreement with Iran to reopen the Strait of Hormuz, including reports of a possible ceasefire. Trump initially threatened severe consequences for Iran if the Strait remained closed, using strong language on his Truth Social platform. However, he also indicated that negotiations were underway and expressed optimism about a deal within 24 hours. The total market capitalization climbed to $2.44 trillion, with Bitcoin reaching $69,500. The situation has led to $255 million in liquidations, primarily of short positions. Trump's comments followed over a month of conflict, contributing to rising global oil prices and fears of a potential economic recession. Reports suggest discussions are ongoing for a 45-day ceasefire, adding to the uncertainty. Oil prices surged, potentially exacerbating inflation, with Americans spending an additional $240 million daily on fuel since the conflict began.

(Source：Cointelegraph)