Markets, including Bitcoin and gold price jumped sharply following news that US President Donald Trump had frozen Iran strike plans following very productive talks.
The report comes hours before the President’s 48 hour countdown ended.
Bitcoin and Gold Recover After Trump’s Productive Talks Announcement
Trump announced a temporary halt to planned military strikes against Iran, citing “very good and productive” discussions between the two nations over the past two days.
The pause, set for five days, affects potential attacks on Iranian power plants and energy infrastructure.
Trump said the decision was based on the “constructive” tone of ongoing negotiations, which are expected to continue throughout the week.
The move signals a possible de-escalation in Middle East tensions, with further military action contingent on the outcome of the talks between Washington and Tehran.
In hindsight, Trump had given a 48-hour window for Iran to reopen the Strait of Hormuz, failure of which would attract attacks against Iran’s power plants, starting with the biggest one.
Bitcoin and gold prices reacted to the news, with the pioneer crypto reclaiming the $70,000 psychological support and was trading for $70,884 as of this writing.
Meanwhile, gold was trading for $4,452 at press time, also recording an unexpected correction after recording an intra-day low of $4,099 on Monday.
“Bulls rule for a.m.,” remarked Jim Cramer.
However, the reaction could be temporary, before traders cash in on the gains in a typical “sell the news” situation.
Nevertheless, the sudden Bitcoin price surge saw $265 million worth of crypto shorts liquidated within a 15-minute window, caught off-guard after taking short positions for BTC price.
Iranian media has denied any direct or indirect contact with Trump, claiming the US backed down after threatening strikes on West Asia energy facilities.
