SAEDNEWS: The digital currency market surged by 2.5% on Monday. This growth followed contradictory messages from U.S. President Donald Trump regarding the possibility of an agreement with Iran to reopen the Strait of Hormuz and even the potential for a permanent ceasefire.
According to the Science and Technology Desk of Saed News, following recent developments, the total market value rose by $70 billion to $2.44 trillion, with Bitcoin reaching $69,500. This price surge liquidated around $255 million in trading positions, 73% of which were short positions.
In a sharp post on the “Truth Social” platform, Donald Trump warned Iran that failing to reopen the Strait of Hormuz would lead to severe consequences. However, in an interview with Fox News, he expressed optimism about ongoing negotiations and considered a deal within the next 24 hours likely. At the same time, reports emerged of talks to establish a 45-day ceasefire mediated by regional powers.
Continued tensions pushed Brent crude oil prices to $112 per barrel, a development that could raise the U.S. Consumer Price Index (CPI) inflation rate to 3.7%. Since the outbreak of conflicts on February 28, daily fuel costs for U.S. citizens have risen by about $240 million, placing significant pressure on the global economy.
