Strait of Hormuz Reopening Boosts Crypto Market: Bitcoin Breaks $77,000, Major Altcoins Follow Suit

Odaily According to reports, against the backdrop of easing tensions in the Middle East, Iran announced the "full opening" of the Strait of Hormuz during the ceasefire period, leading to a strengthening of global risk assets.

Boosted by the news, Bitcoin briefly broke through $77,000, hitting a nearly two-month high, with an increase of approximately 5% over the past 24 hours. Major altcoins followed the upward trend, with Ethereum, XRP, and Solana all recording gains of around 6%.

Iranian Foreign Minister Seyed Abbas Araghchi stated that during the ceasefire with Lebanon, all commercial vessels can pass through the strait but must follow the "coordinated routes" set by Iran. The strait handles about 20% of global oil transportation, making it a crucial energy corridor.

In traditional markets, the S&P 500 and Nasdaq Composite both hit record highs simultaneously, indicating a significant recovery in risk appetite.

U.S. President Trump also posted on social media that "the Strait of Hormuz is reopened for commercial activity," but simultaneously emphasized that Iranian vessels could still face blockade measures until the U.S.-Iran agreement is fully implemented. (Decrypt)