{"id":73275,"date":"2026-05-29T20:54:41","date_gmt":"2026-05-29T20:54:41","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-climbs-above-74000-after-trump-signals-strait-of-hormuz-shipping-restart\/"},"modified":"2026-05-29T20:54:41","modified_gmt":"2026-05-29T20:54:41","slug":"bitcoin-climbs-above-74000-after-trump-signals-strait-of-hormuz-shipping-restart","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-climbs-above-74000-after-trump-signals-strait-of-hormuz-shipping-restart\/","title":{"rendered":"Bitcoin Climbs Above $74,000 After Trump Signals Strait of Hormuz Shipping Restart"},"content":{"rendered":"<p><b>(Originally posted on : Bitcoin News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"@container mb-[25px] rounded-sm overflow-clip py-0.5 pr-0.5 pl-2.5 bg-success-100\">\n<div class=\"flex flex-col gap-m overflow-clip rounded-[6px] !bg-success-10 p-3 @[420px]:p-m\">\n<h2 class=\"m-0 flex items-center gap-s text-[19px] !text-[#1c1c1c] md:text-[20px]\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"10\" viewbox=\"0 0 16 10\" fill=\"none\" class=\"shrink-0 text-success-100\" aria-hidden=\"true\"><path d=\"M1 1.5h14\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><path d=\"M1 8.5h10\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><\/svg><span>Key Takeaways<\/span><\/h2>\n<ul class=\"m-0 flex list-none flex-col gap-m pl-0\">\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Bitcoin rebounded past $74,000 on May 29 after a sharp intraday drop to a multiweek low of $72,395.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Donald Trump\u2019s post on Truth Social triggered a U.S. stock surge and cut Brent crude prices toward $91.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Analysts watch Tehran over the next 48 hours to see if Iran verifies the deal or if it collapses.<\/span><\/li>\n<\/ul>\n<\/div>\n<\/div>\n<h2> <span>Bitcoin<\/span> Reclaims $74,000 Following Intraday Dip<\/h2>\n<p>On Friday, May 29, <span>bitcoin<\/span> reclaimed $74,000 just a few hours after it plunged to a multiweek low of $72,395. The <span>cryptocurrency<\/span>\u2019s surge followed reports that Iran and the U.S. had reached an agreement to<a href=\"https:\/\/news.bitcoin.com\/bitcoin-dips-below-76000-as-traders-dump-longs-and-momentum-fades\/\"> reopen the Strait of Hormuz<\/a>, a critical shipping lane through which 20% of the global crude oil supply passes.<\/p>\n<p> <iframe src=\"https:\/\/markets.bitcoin.com\/crypto\/bitcoin\/embed\" width=\"100%\" style=\"max-height:500px;height:500px;border:none;overflow:hidden;border-radius:4px\" scrolling=\"no\" title=\"bitcoin market data\"><\/iframe> <\/p>\n<p> <span>Bitcoin<\/span> spent the early morning oscillating in a tight range between $73,000 and $73,500 before diving. Just after 5 a.m. EST, the <span>cryptocurrency<\/span> shed over $1,500 to hit a daily low. But the market quickly reversed course as reports emerged of a Washington-Tehran agreement. Once U.S. President Donald Trump confirmed the deal via Truth Social, a massive wave of buying propelled <span>bitcoin<\/span> to $74,223.<\/p>\n<p>Although the <span>cryptocurrency<\/span> dipped back below $74,000 by 1:55 p.m. EST, it maintained a 24-hour gain of roughly 0.6%. The marginal increase narrowed <a href=\"https:\/\/www.binance.com\/en\/price\/bitcoin\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">bitcoin<\/a>\u2019s 30-day losses to 2.7% and pushed its market capitalization past $1.48 trillion.<\/p>\n<p>Although the reported memorandum of understanding remains subject to formal ratification by Trump and Iranian leadership, the president\u2019s social media confirmation was enough to spark a market reversal\u2014igniting a rally in U.S. equities while triggering a sell-off in energy markets.<\/p>\n<p>Brent crude, which started the week flirting with the $100-per-barrel threshold, plunged to an intraday low of $91.47, while West Texas Intermediate (WTI) declined to $87. The collapse in crude prices, paired with the imminent reopening of the Strait of Hormuz, is expected to inject substantial deflationary relief into the global economy, potentially allowing central banks to ease off aggressive monetary tightening.<\/p>\n<p>However, geopolitical analysts warn that a <a href=\"https:\/\/news.bitcoin.com\/us-iran-escalation-push-bitcoin-to-72622-as-870m-long-bets-collapse\/\">permanent ceasefire<\/a> remains a distant prospect unless Tehran publicly corroborates Trump\u2019s characterization of the deal. The skepticism is underscored by a stark narrative disconnect: while Washington claims a breakthrough is imminent, Iranian state media and top negotiators have dismissed the purported terms as a Western wishlist, asserting that no text has been finalized. Observers believe the next 48 hours will be critical in determining whether the diplomatic framework collapses or holds.<\/p>\n<p>Meanwhile, <a href=\"https:\/\/www.binance.com\/en\/price\/bitcoin\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">bitcoin<\/a>\u2019s <a href=\"http:\/\/www.bitcoin.com\/get-started\/what-is-volatility\/\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">volatile<\/a> price action wiped out $29.5 million in short bets and $20 million in long bets over a four-hour window. Total liquidations across the <a href=\"http:\/\/www.bitcoin.com\/get-started\/a-quick-introduction-to-crypto\/\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">cryptocurrency<\/a> market reached $111.7 million during that period, with short liquidations accounting for $69.3 million.<\/p>\n<\/p><\/div>\n<p><a href=\"https:\/\/news.bitcoin.com\/bitcoin-climbs-above-74000-after-trump-signals-strait-of-hormuz-shipping-restart\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Bitcoin News ) Key Takeaways Bitcoin rebounded past $74,000 on May 29 after a sharp intraday drop to a multiweek low of $72,395. Donald Trump\u2019s post on Truth Social triggered a U.S. stock surge and cut Brent crude prices toward $91. Analysts watch Tehran over the next 48 hours to see [&hellip;]<\/p>\n","protected":false},"author":10,"featured_media":73276,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[32],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/73275"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=73275"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/73275\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/73276"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=73275"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=73275"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=73275"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}