Trump Temporarily Eases Oil Sanctions, Sending Crude Lower and Bitcoin, Ethereum Higher
The United States has long used sanctions to restrict Iranian oil exports, while the Strait of Hormuz crisis has heightened the risk of crude supply disruptions, pushing up energy prices and global inflation expectations. Because higher oil prices could delay Federal Reserve rate cuts and tighten market liquidity, risk assets including Bitcoin and Ethereum have become particularly sensitive to oil-price moves.
U.S. President Donald Trump has announced a temporary, 60-day suspension of some sanctions related to Iranian oil, easing supply concerns and sending crude prices sharply lower from their highs. Crypto markets rebounded immediately, with Bitcoin rising to $69,500 and Ethereum breaking above $2,053. Liquidations in the derivatives market reached $342 million.
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The history behind this eventCrypto Market Rallies as Trump Issues Iran Ultimatum
The Strait of Hormuz carries a significant share of the world’s oil and natural gas shipments. A blockade could drive up energy prices and inflation while hurting risk appetite across financial markets. U.S. President Donald Trump has used the threat of military action to pressure Iran to reopen the waterway, leaving Bitcoin and other crypto assets once again sensitive to geopolitical developments and safe-haven capital flows.
Trump recently gave Iran a two-week deadline to reopen the Strait of Hormuz or face a possible attack, while also signaling a two-week ceasefire. Investors bet that the conflict would ease, lifting the total cryptocurrency market capitalization by about 2.5%. Bitcoin briefly rose to $69,500, triggering about $255 million in short liquidations across the market.
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