Bitcoin surged past $72,000 as U.S. oil prices climbed above $103 per barrel, driven by geopolitical developments in the Middle East. Reports indicate President Trump urged Israel’s Prime Minister to scale back strikes in Lebanon to protect negotiations with Iran, heightening market volatility. The cease-fire announced earlier this week appears fragile, contributing to sharp price movements in both assets.
Bitcoin and oil prices jumped significantly, reaching recent local peaks. Bitcoin exceeded $72,000 while U.S. oil prices surpassed $103 per barrel.
The movement followed reports that U.S. President Trump called Israeli Prime Minister Benjamin Netanyahu. He reportedly urged Israel to scale back strikes in Lebanon to protect Iran negotiations.
A senior official familiar with the matter stated Israel had agreed to be a “helpful partner.” The call came after Netanyahu pledged to continue aggressive strikes, which Iran warned could end the truce.
Bitcoin’s price reacted immediately, jumping from $70,500 to over $72,000. This followed a prior surge where it reached a three-week high of $72,800.
U.S. oil prices rose by about $1 per hour, nearing $103 per barrel. This marks a 12% increase from lows seen approximately 24 hours earlier as ceasefire doubts grew.
The price recovery followed a shock 20% drop after the cease-fire announcement. The actual number of ships passing through the Strait of Hormuz remains a fraction of pre-war levels.
