Bitcoin price climbed above $78,000 during US trading hours, reaching an intraday high of $78,940 as markets responded to diplomatic developments between the United States and Iran. The recovery coincided with comments from President Donald Trump regarding potential negotiations.
Trump posted on Truth Social that Iran was interested in a deal and that Washington was open to negotiations, stating Iran was eager for "a deal, as quickly as possible, as badly as possible." The statement prompted a broader market rebound, with US stocks recovering approximately $570 billion after earlier losses exceeded $600 billion in the session.
Iranian state media quickly rejected Trump's characterization, denying that Tehran was seeking a rapid agreement. LiveSquawk cited Iran's ILNA news agency reporting that the United States was pursuing a "phased" agreement, though no final deal was confirmed.
Energy markets remained volatile amid the uncertainty. US crude traded near $103 per barrel while Brent crude approached $108, both hovering near four-month highs. Oman postponed regional talks involving Iran and other countries over control of the Strait of Hormuz, citing the need for consensus.
Regional tensions continued to escalate, with intensified fighting between Iran-backed Houthi forces and Saudi-backed Yemeni government forces raising concerns about Red Sea shipping disruptions. Iran-linked groups have also been blamed for attacks on Saudi infrastructure, further pressuring energy routes.
