April 18, 2026 09:17:15

Trump announced that the Strait of Hormuz has reopened
Bitcoin crossed the $77,000 mark this week, and the trigger had nothing to do with crypto itself. A statement from President Trump confirming that Iran has agreed to reopen the Strait of Hormuz sent a wave of optimism through global markets — and digital assets rode that wave higher along with everything else.
Why the Strait of Hormuz Matters to Bitcoin
Hormuz is one of the world’s busiest shipping routes and serves as a passage for approximately 20% of the world’s oil supplies from the Persian gulf to the rest of the world. As a result, when there are concerns about the safety of the route (or restrictions on use), there can be upward pressure on global energy prices and corresponding inflation fears. This leads to an exodus of funds away from higher-risk asset classes and into lower-risk ones.
This is why President Trump’s comments this week that he believes Iran is negotiating to keep the strait open were so impactful. Upon hearing those words, oil prices plummeted and therefore so did the risk of supply disruptions. Once this pressure was alleviated, the overall inflation picture in the United States improved and therefore the Federal Reserve has more flexibility to cut interest rat
es. Markets have consistently demonstrated they like both low inflation risks and low interest rates, and as a result, we saw sharp moves in all three of these asset categories today.
Bitcoin's Breakout to $77,000
One of the clear winners of today’s turn-around was bitcoin. Shortly after President Trump made his comments about Iran and the strait, Bitcoin began to break through multiple resistance points it had encountered over the last few weeks and reached a high of $77,000 - its highest level in quite some time. Additionally, trading volume increased dramatically at many exchanges. However, unlike some other days recently, this increase reflected actual demand from buyers as opposed to simply thin markets drifting higher.
It wasn’t just Bitcoin that reacted positively to today’s events. Other cryptocurrencies also appreciated significantly as traders regained their appetites for risk. We’ve seen this before: when geopolitical risks recede and the global economy appears healthier, speculative assets are often among the first to rebound.
What Analysts Are Watching Next
With the $77,000 level now in the rearview mirror, attention is turning to what comes next. Several analysts have pointed to $80,000 as the next meaningful target, and some believe a sustained move toward that level is plausible if the diplomatic situation with Iran continues to develop positively.
That said, the market is far from out of the woods. Any sign that talks between the US and Iran are stalling, or that the strait faces new disruptions, could quickly reverse the optimism that's currently driving prices higher. Investors will also be watching the Federal Reserve closely, since the real long-term fuel for a Bitcoin bull run would be a clear signal that rate cuts are back on the table.
For now, though, the mood has shifted decisively. The combination of easing geopolitical tension, softer oil prices, and improving inflation expectations has given crypto markets exactly the kind of catalyst they needed, and Bitcoin wasted no time responding.
