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\n\t\t\t\t\t\t\t\t\tIran said seven of Trump’s claims made in one hour are all false. \t\t\t\t\t\t\t\t<\/p>\n<\/p><\/div>\n
Bitcoin\u2019s price recovered impressively yesterday by surging to a 10-week peak of over $78,000 after US President Donald Trump said the Strait of Hormuz was opened.<\/p>\n
However, this rally could be in jeopardy now, as Iran\u2019s Speaker of Parliament, Ghalibaf, denied many of the POTUS\u2019s positive statements.<\/p>\n
Recall that Trump took to his social media to announce<\/a> yesterday that the Strait of Hormuz was finally reopened, as both sides had made great progress on negotiating a permanent peace deal. Later on, he doubled down, claiming<\/a> that the deal was \u201cmostly complete,\u201d there would be more talks this weekend, and, perhaps most importantly, that Iran had agreed to halt its nuclear program indefinitely.<\/p>\n Although Iranian officials confirmed the reopening of the Strait initially, further statements on the matter provided a different perspective. Ghalibaf said the key Strait will not remain open if the US blockade continues, and the passage will be conducted based on the \u201cdesignated route\u201d and with \u201cIranian authorization.\u201d<\/p>\n \u201cWhether the Strait is open or closed and the regulations governing it will be determined by the field, not by social media,\u201d he added.<\/p>\n<\/blockquote>\n Ghalibaf went further, indicating that Trump made overall seven claims in one hour, but they were all false. He outlined<\/a> the significance of \u201cmedia warfare and engineering public opinion,\u201d but the Iranian nation \u201cis not affected by these tricks.\u201d<\/p>\n Bitcoin reacted immediately after Trump\u2019s initial announcement, with an impressive surge toward $77,000. As the POTUS continued to try to de-escalate the situation, BTC kept climbing and hit $78,400 for the first time since early February.<\/p>\n It retraced in the following hours and now sits inches above $77,000. However, given the fact that all these gains were attributed to the seemingly de-escalating tension in the Middle East, its progress could be halted soon if Iran\u2019s claims are proven to be true.<\/p>\n History has shown that BTC tends to remain relatively stable over the weekend, unless there\u2019s some major escalation, and slides once the legacy futures markets open on Sunday evening. For now, the retracement to $77,000 is not significant, but there might be more volatility in the next 48 hours.<\/p>\n \u00a0<\/p>\n\n
Will BTC Falter?<\/h2>\n
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