Bitcoin and Ethereum React As Trump Again Claims ‘Great Progress’ in Talks With Iran

Crypto Prices React to Trump’s Peace Talks with Iran

The cryptocurrency market experienced volatility at the start of the week following US President Donald Trump’s latest claims regarding progress in peace talks with Iran.

Trump took to his social media platform, Truth Social, to deliver a message that not only suggested advancements in negotiations but also included a warning.

“The United States of America is in serious discussions with A NEW, AND MORE REASONABLE, REGIME to end our Military Operations in Iran. Great progress has been made but, if for any reason a deal is not shortly reached, which it probably will be, and if the Hormuz Strait is not immediately ‘Open for Business,’ we will conclude our lovely ‘stay’ in Iran by blowing up and completely obliterating all of their Electric Generating Plants, Oil Wells and Kharg Island (and possibly all desalinization plants!), which we have purposefully not yet ‘touched.’”

Initially, Bitcoin (BTC) saw a 0.8% increase, while Ethereum (ETH) rose by 2.5%. However, both cryptocurrencies later saw a decline, with BTC at $67,749 and ETH at $2,073 at the time of writing.

Despite Trump’s hints at progress in peace talks, some Iranian officials have refuted his claims. Mohammad Bagher Ghalibaf, the speaker of the Iranian Parliament, issued a warning about potential market manipulation related to the ongoing tensions.

“Heads-up: Pre-market so-called “news” or “Truth” is often just a setup for profit-taking. Basically, it’s a reverse indicator. Do the opposite: If they pump it, short it. If they dump it, go long. See something tomorrow? You know the drill.”

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Image Credit: Midjourney