Bitcoin Tops $76,000 as Brent Falls 10% After Hormuz Reopening

Iran’s foreign minister declared the Strait of Hormuz open for the remainder of the current ceasefire on Friday, and U.S. President Donald Trump confirmed the passage in a separate post. The announcement triggered rapid moves in energy and cryptocurrency markets.

Market data showed bitcoin rose above $76,210 on Friday, up about 1% for the session and roughly 5% over the prior week. Brent crude futures fell about 10%, slipping to near $85 per barrel from higher levels earlier in the week.

Iranian Foreign Minister Seyed Abbas Araghchi wrote on social media: ‘the passage for all commercial vessels through Strait of Hormuz is declared completely open for the remaining period of ceasefire.’

The declaration applies only to the remainder of the current ceasefire, which involves the United States, Israel and Iran and is scheduled to expire on April 22.

The Strait of Hormuz is a major route for commercial shipping, including oil tankers, and statements about its status often affect oil prices. Traders reacted within minutes to the post, sending oil futures sharply lower while risk assets such as bitcoin registered gains.

The intraday drop in Brent represented a reversal from the risk premium that had been built into prices amid recent hostilities. Bitcoin’s rise occurred as markets adjusted to the reduced short-term shipping risk.

Market participants said they will monitor developments through the end of the truce for signs of whether commercial traffic remains uninterrupted and whether regional tensions resume.