Bitcoin briefly pushed to $77,037 as markets reacted to Iran’s claim that commercial traffic through the Strait of Hormuz is open during the current ceasefire window. Brent crude futures dropped about 10% to around $85 per barrel, signaling a fast unwind of the geopolitical risk premium even as the ceasefire is set to expire April 22.

Key Takeaways

• Iran’s foreign minister said the Strait of Hormuz is “completely open” to commercial vessel traffic for the remaining period of the ceasefire.
• briefly hit $77,037 after the statement, about 1% higher on the day and part of a roughly 5% weekly recovery, per TradingView.
• Brent crude fell about 10% to around $85 per barrel, according to Tradingeconomics.
• The ceasefire is described as expiring April 22, while President Donald Trump said a US naval blockade remains in “full force and effect” until a transaction is “100% complete.”

Bitcoin Pops Above $77K as Hormuz Risk Premium Unwinds

Bitcoin’s push to $77,037 on Friday lined up with a broader cross- risk-on burst after headlines signaled reduced near-term disruption risk in the Strait of Hormuz. The move was brief, but it was clean in timing, arriving immediately after the shipping-access statement.

TradingView data showed BTC briefly hit $77,037, described as roughly 1% higher on the day and extending a roughly 5% weekly recovery. In parallel, Brent crude oil futures dropped about 10% to around $85 per barrel, per Tradingeconomics.

That pairing matters for macro-sensitive crypto traders. When oil dumps on de-escalation headlines, it is usually the market stripping out a supply-shock premium. In this case, BTC traded like a high-beta risk asset catching the same relief impulse.

Araghchi’s ‘Completely Open’ Claim and Trump’s Blockade Caveat

Iranian Foreign Minister Seyed Abbas Araghchi wrote on X that, “In line with the ceasefire in Lebanon, the passage for all commercial vessels through Strait of Hormuz is declared completely open for the remaining period of ceasefire,” explicitly tying the assurance to a time-boxed window.

US President Donald Trump also posted on Truth Social confirming the opening of the passage. The confirmation came with a constraint that keeps conditionality embedded in the trade. Trump wrote the US naval blockade will remain in “full force and effect” until the US’ transaction with Iran is “100% complete,” adding that “most of the points are already negotiated.”

The packet does not detail the ceasefire’s enforcement mechanics or what constitutes completion of the referenced transaction. That ambiguity is the point for markets. It keeps the story tradable on incremental headlines.