Bitcoin Rises Above $65,000 After U.S.-Iran Framework Agreement Announced
Bitcoin rose above $65,000 on Monday following President Trump's announcement of a framework agreement with Iran. The deal would lift a naval blockade and reopen the Strait of Hormuz once signed.
tass.comBitcoin climbed above $65,000 on Monday after President Trump announced that the United States and Iran had reached a framework agreement. The agreement calls for the naval blockade to lift and the Strait of Hormuz to reopen once both sides sign the deal. Oil supply restrictions through the strait had driven energy costs higher for months before the framework was announced.
Benzinga reported that the reported deal closes the chapter on the single biggest inflationary pressure weighing on global markets since the conflict began. Bitcoin had reached a reported low of $60,000 before climbing above $65,000. Coinbase CEO Brian Armstrong stated that BTC has probably bottomed at $60,000.
The price increase followed a broad risk-on move across markets after the Sunday announcement.
