Bitcoin Tops $82,000 on U.S.-Iran Memo Reports

Bitcoin rose above $82,000 on Wednesday after reports that U.S. and Iranian officials are close to agreeing on a one-page, 14-point memorandum to end hostilities, lift sanctions and reopen the Strait of Hormuz. The draft would declare an end to fighting and open a 30-day window for detailed talks on transit through the strait, Iran’s nuclear program and sanctions relief.

White House envoys Steve Witkoff and Jared Kushner are negotiating the document. Iran’s Revolutionary Guards Navy indicated it may allow safe passage through the strait if U.S. naval operations are paused. U.S. officials expect a response from Iran within 48 hours. Iranian authorities have conditioned acceptance on the settlement being fair. No formal agreement has been signed. U.S. forces would retain the ability to restore a blockade or resume military action if talks collapse.

Markets reacted quickly. Bitcoin was up about 1.4% over the prior 24 hours and traded in the low $82,000s. The S&P 500 rose about 0.85% to a record close of 7,366.25. West Texas Intermediate crude fell more than 10% to near $93 a barrel.

Bitcoin’s one-day relative strength index reached 71, its highest level in seven months, a reading last seen when the token hit a record $126,080. Since the start of the regional conflict, Bitcoin has gained about 25%, the S&P 500 about 8% and gold has fallen roughly 11%.

Traders on the prediction market Myriad assigned an 87% probability that Bitcoin will rally to $84,000 rather than fall to $55,000. Myriad users also cut the chance they attached to WTI crude reaching $120 from nearly 74% the day before to about 60%.

President Trump posted on Truth Social: “Assuming Iran agrees to give what has been agreed to, which is, perhaps, a big assumption, the already legendary Epic Fury will be at an end, and the highly effective Blockade will allow the Hormuz Strait to be OPEN TO ALL, including Iran. If they don’t agree, the bombing starts, and it will be, sadly, at a much higher level and intensity than it was before.”

The proposed memorandum is a short framework rather than a full treaty, leaving details to be worked out during the 30-day window. Reopening the Strait of Hormuz would restore a major route for global oil shipments.