Bitcoin rallies to $65K while US equities rebound after Trump signals no immediate Iran talks and reopens the Strait of Hormuz.
Bitcoin surged to $65K as the S&P 500 recovered from its lowest level since August 4, currently at 7,696. The move followed President Trump’s statement that the Strait of Hormuz remains open, easing geopolitical concerns after earlier tensions with Iran over control of the critical oil route.
Oil prices showed limited volatility, with WTI crude down 1% at $84 per barrel. Meanwhile, US Treasury yields climbed, with the 30-year yield reaching 5.34%, its highest since January 2007, as investors priced in inflation risks and rising government borrowing.
Trump confirmed no diplomatic talks with Iran were planned, reinforcing a hardline stance. The market reaction reflected relief in equities but continued caution in bonds, with analysts warning of persistent inflation pressures.