Trump’s decision to continue diplomacy with Iran despite ending the U.S. ceasefire sparked fresh uncertainty across global financial markets. Investors quickly reacted as geopolitical tensions intensified around the Strait of Hormuz, a vital route for global energy supplies.
Oil prices climbed sharply following the announcement, while Bitcoin extended its recent gains. Although Washington left the door open for negotiations through regional mediators, traders shifted their focus toward the growing risks surrounding energy markets and broader economic stability.
Trump Ends Ceasefire While Keeping Talks Alive
President Donald Trump announced on Truth Social that the U.S. ceasefire with Iran had officially ended. However, his administration agreed to continue diplomatic discussions through Qatari mediators in Tehran. The ceasefire had remained in effect since June 17, but recent military actions accelerated its collapse.
Moreover, Washington and Tehran previously signed a framework to revive negotiations and reopen the Strait of Hormuz. The agreement also aimed to remove the U.S. naval blockade across the strategic waterway. Consequently, renewed military operations derailed those efforts after the United States struck 90 targets inside Iran following attacks on commercial shipping.
Oil Surges as Bitcoin Extends Gains
Brent crude futures jumped about 6% to $78.80 per barrel, while U.S. West Texas Intermediate advanced to $75.00. Besides, concerns over supply disruptions fueled the sharp rally across energy markets.
Meanwhile, Bitcoin continued attracting buyers despite geopolitical uncertainty. BTC traded at $63,696, recording a 0.99% daily gain and a 2.96% weekly increase.
Additionally, Bitcoin posted $26.54 billion in 24-hour trading volume and maintained a market capitalization of approximately $1.277 trillion, supported by a circulating supply of 20 million BTC.
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