Bitcoin experienced a significant rise after President Trump revealed a peace agreement involving Iran and several other Middle Eastern nations.
"An Agreement has been largely negotiated, subject to finalization between the United States of America, the Islamic Republic of Iran, and the various other Countries," wrote President Trump late Saturday afternoon.
By Stephen Alpher Updated May 23, 2026, 8:57 p.m. Published May 23, 2026, 8:52 p.m. 1 min read
Bitcoin rises as Trump announces Middle East agreement (Library of Congress on Unsplash/Modified by CoinDesk)Key Insights:
- Bitcoin, which had seen a sharp decline earlier on Saturday, rebounded after Trump’s announcement regarding the peace agreement.
- The deal includes the reopening of the Strait of Hormuz, according to Trump.
After dropping nearly 4% late Friday into early Saturday, bitcoin BTC$76,359.36 quickly recovered those losses following President Trump’s declaration about a forthcoming agreement with Iran and other nations.
"An Agreement has been largely negotiated, subject to finalization between the United States of America, the Islamic Republic of Iran, and the various other Countries," Trump stated in a post on Truth Social.
He added that "the Strait of Hormuz will be opened" as part of the agreement.
This announcement propelled bitcoin’s value upwards to $76,700 after it had dipped to almost $74,000 earlier on Saturday.
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