US Senate · Donald Trump · Iran · Federal Reserve (FED) · Strait of Hormuz · Bitcoinist
Trump Rejects Iran Peace Proposal, Bitcoin Breaks $82,000
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Bitcoin has now climbed nearly 30% since the US-Iran war began on February 28, a run that has outpaced both gold and the S&P 500 even as the conflict continues to shake global markets.
Key facts
- Bitcoin initially slid on the news, dropping from $81,400 to $80,500 within 45 minutes of the post
- Within three hours, the price had swung back above $82,000, breaking $81,000 on the way up and settling near $82,350
- Bitcoin has now climbed nearly 30% since the US-Iran war began on February 28, a run that has outpaced both gold and the S&P 500 even as the conflict continues to shake global markets
- Oil climbed another 4.5% to $98.68 per barrel after Trump’s latest statement, adding pressure to an already strained economic picture
Summary
Two events in the US Senate this week could add more fuel to that rally, according to 10x Research CEO Markus Thielen. The first is a Monday vote on Kevin Warsh’s nomination as Federal Reserve chair. Thielen described the crypto legislation as the most significant of its kind in years, one that could bring long-awaited regulatory certainty to digital assets. As for Warsh, widely seen as more hawkish on inflation than current Fed chair Jerome Powell, Thielen said his confirmation would clear away uncertainty rather than create it.