Bitcoin’s price surged past $65,000 on Sunday evening, marking its first breach of that level in roughly ten days. The jump followed a post by former U.S. President Donald Trump on his social media platform announcing the completion of a deal with Iran. The cryptocurrency had been trading calmly prior to the announcement but reacted with an immediate uptick, dragging major altcoins higher and liquidating $170 million in short positions within an hour.
Bitcoin’s price jumped past $65,000 for the first time in approximately ten days on Sunday evening. The move came after former U.S. President Donald Trump confirmed on his social media platform that a deal with Iran was complete.
“The Deal with the Islamic Republic of Iran is now complete. Congratulations to all! I hereby fully authorize the toll-free opening of the Strait of Hormuz, and, simultaneously herewith, authorize the immediate removal of the United States Naval blockade. Ships of the World, start your engines. Let the oil flow!” Trump stated. Bitcoin had dipped below $64,000 just before the announcement but then reacted with an immediate price increase.
The cryptocurrency showed a 2% increase in the past hour alone, climbing above $65,000 for the first time since June 4. Most alternative cryptocurrencies followed suit, with Ethereum soaring past $1,700 and Solana tapping $70.
According to data from CoinGlass, the total value of wrecked short positions jumped to $170 million in just the last hour. It is worth noting that there has still been no confirmation from Iran on the deal mentioned by Trump. Reports from the Middle Eastern country had previously put the promise of an agreement in doubt.
