Following the announcement that U.S. President Donald Trump has put a halt to military actions against Iran after successful negotiations, both Bitcoin and gold prices experienced a significant surge.
This development came just before the conclusion of Trump’s 48-hour ultimatum.
Bitcoin and Gold Prices Surge After Trump’s Diplomatic Efforts
The President revealed a temporary suspension of military strikes aimed at Iran, attributing this decision to “very good and productive” discussions held over the previous two days between the two countries.
This five-day pause impacts potential assaults on Iranian energy facilities and power plants.
Trump stated that his choice was influenced by the “constructive” nature of ongoing talks, which are anticipated to proceed throughout the week.
This action indicates a possible reduction in tensions within the Middle East, with any further military engagement dependent on how negotiations unfold between Washington and Tehran.
In retrospect, Trump had issued a 48-hour deadline for Iran to reopen access through the Strait of Hormuz; failure to comply would have led to strikes targeting its major power plants.
As a result of this news, Bitcoin regained its footing above $70,000 psychological support level and was trading at $70,884 at this moment.
At press time, gold also saw an uptick in value trading around $4,452 after experiencing an intra-day low of $4,099 earlier on Monday—an unexpected correction in its price trajectory.
Bitcoin and Gold Price Performance. Source: TradingView
The market’s response may be short-lived as traders often take profits during typical “sell-the-news” scenarios following such announcements.
The rapid increase in Bitcoin’s value resulted in approximately $265 million worth of crypto shorts being liquidated within just 15 minutes as traders were caught off guard while holding short positions on BTC prices.
This article originally appeared under “Markets Jump Sharply As Trump Freezes Iran Strike Plans In ‘Very Productive’ Talks,” published by BeInCrypto.