After a day marked by market fluctuations due to rapidly evolving geopolitical events in the Middle East, Bitcoin’s price approached $70,000 shortly after President Trump made comments on the war and the strategic Strait of Hormuz.

His statements sent ripples across various financial sectors, notably with oil prices taking a dive. Contracts for West Texas Intermediate (WTI) Crude Oil dropped below $90 per barrel, following a spike to $120 earlier in the day.

BREAKING: President Trump says, “I think the war is very complete, pretty much.”

Oil prices officially turn negative, reversing a gain of +30%, marking one of the most significant daily turnarounds recorded. source

Trump’s announcement comes at a peculiar moment, as Iran appointed a new Supreme Leader—Mojtaba Khamenei. Trump criticized the choice as a “big mistake.”

Additionally, it has been reported that countries such as the UAE and Turkey are intercepting Iranian drones and missiles.

While further discussing Middle East affairs, Trump reportedly mentioned that the U.S. is considering taking control of the Strait of Hormuz, which has been largely blocked, affecting oil transport.

As previously noted, oil prices plummeted again following his latest comments after reaching a multi-year peak that morning. Meanwhile, gold and the S&P 500 have also seen gains, with gold touching $5,140/oz and the S&P 500 exceeding 6,800.

Bitcoin experienced a surge from $68,000 to $69,600 (on Bitstamp) but encountered resistance and is currently trading around $69,000. Ethereum has surpassed $2,000, with SOL exceeding $85.