Bitcoin tops $79K as oil eases after Trump Iran post

Bitcoin climbed above $79,000 on Monday after U.S. President Donald Trump posted that Iran wanted a deal and signaled the military conflict could be nearing an end. Oil prices slipped from earlier highs.

Market data showed BTC/USD up about 3% on the day, erasing weekend losses. The pair briefly tested its 50-week exponential moving average at $77,430 after closing the weekly candle below that trend line.

Trump posted on Truth Social: “The failing Nation of Iran wants to make a deal, quickly and badly. I will determine whether or not the U.S.A. will choose to engage – The concept of which we are open to.” He later wrote: “With the temporary exception of Oil, prices are coming down sharply, and Oil will drop like a rock as soon as the Military Conflict with Iran is over, and that will not be long.”

Crude earlier traded above $100 a barrel for U.S. West Texas Intermediate and near $105 for Brent as concerns persisted about disruptions to the Strait of Hormuz, Saudi Arabia’s East-West pipeline and the Bab el-Mandeb Strait.

U.S. stocks opened higher on Monday but later turned negative, with the S&P 500 down about 0.3% during the session.

Odds of a 25-basis-point Federal Reserve rate increase rose to about 92.7% for the current meeting, according to the CME FedWatch Tool. Markets priced a target range of 3.75%–4.00% and the Fed’s decision is due Wednesday.

Trading firm QCP Capital warned that prolonged high oil prices could push energy costs into transport and logistics and lift inflation expectations, which might constrain the Fed’s ability to pause rate hikes even if growth slows. The firm added that market positioning now hinges more on how policymakers frame any rate change than on the size of the adjustment.

Technically, reclaiming the 50-week EMA is a focus for traders who track longer-term trend lines. Investors will watch whether Bitcoin can hold gains as oil prices and risk sentiment change ahead of the Fed announcement.