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The reopening of the Strait of Hormuz boosts the crypto market, with Bitcoin breaking through $77,000 and mainstream altcoins rising simultaneously
Against the backdrop of easing tensions in the Middle East, Iran announced that the Strait of Hormuz is "fully open" during the ceasefire, leading to a rise in global risk assets. Boosted by the news, btc-42">Bitcoin briefly surpassed $77,000, reaching a nearly two-month high, with an increase of about 5% in the past 24 hours. Major altcoins also rose, with Ethereum, XRP, and Solana recording gains of around 6%.
Iranian Foreign Minister Seyed Abbas Araghchi stated that all commercial vessels can pass through the strait during the ceasefire with Lebanon, but must adhere to the "coordinated shipping lanes" set by Iran. The strait accounts for about 20% of global oil transportation and is a critical energy corridor. In traditional markets, the S&P 500 and Nasdaq Composite both reached historic highs, indicating a significant rebound in risk appetite. U.S. President Trump also posted on social media that "the Strait of Hormuz has reopened for commercial activities," but emphasized that Iranian vessels may still face blockade measures until the U.S.-Iran agreement is fully implemented.
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