- Trump signals Iran war nearing end, shifting global market sentiment quickly.
- Oil prices reverse sharply, falling nearly 10% after topping $119 per barrel.
- Crypto market cap rises to $2.37T as Bitcoin nears $70K amid market rebound.
A single sentence from Donald Trump sent oil prices tumbling and Asian stock markets surging on Tuesday. The war, he said, is “pretty much complete.” That was enough.
Trump Speaks, Markets Move
Standing before reporters on Monday, Trump was characteristically direct. “I think soon, very soon,” he said when asked when the conflict with Iran would end. “Look, everything they have is gone, including their leadership.” He stopped short of providing a timeline, but the message landed clearly in trading rooms around the world: the worst may be over.
The reaction was immediate. Oil, which had surged past $119 a barrel, reversed sharply. Brent crude fell as much as 10%, dropping back below $90 per barrel. The reversal was accelerated by two things: Trump’s comments and reports of a coordinated release of oil from strategic petroleum reserves.
Peter Schiff, who has been among the most vocal observers of the energy shock, said that profit-taking drove the pullback but warned that the broader upward trend in oil remains intact.
Lebanon is separately reported to be seeking direct peace negotiations with Israel. Russia signalled that Trump is also showing renewed interest in pushing toward an end to the Ukraine conflict. In the space of a few hours, the geopolitical picture shifted more than it had in days.
Behind the scenes, however, the picture is more complicated. According to reports, some of Trump’s own advisers have privately urged him to develop a clear exit plan from the Iran war.
How Markets Are Responding
The relief was visible across the board. Asia-Pacific shares outside Japan climbed 2.6%, recovering some of the losses sustained since the conflict began.
Crypto, however, made headlines. The total market cap climbed to $2.37 trillion, up 2.68% on the day. Bitcoin pushed to $69,674, gaining 3.68% over 24 hours. Ethereum held above $2,033, up 2.99%. XRP added 1.79% to trade at $1.37. Solana gained 2.83%. The average crypto RSI crossed 51, returning to neutral for the first time since the conflict began.
U.S. equity futures were more measured, with S&P 500 futures slipping 0.2% after Monday’s sharp rebound. However, the Strait of Hormuz has not officially reopened. And oil, despite its sharp pullback, remains significantly above its pre-conflict level.
Related: VCs Bet $25.5B on Crypto Infrastructure as Hormuz Crisis Hits Oil
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