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Bitcoin prices have seen a wave of volatility, approaching $70,000, as the situation in the Middle East develops after US President Donald Trump issued a statement suggesting that the war is coming to an end.
The price of Bitcoin quickly jumped from around $67,000 to $69,600 before falling slightly to trade near $69,200.
Altcoins also saw gains, with Ethereum’s price crossing the $2,000 level and Solana’s price rising above $85.
On the other hand, oil prices fell sharply after Trump’s speech, with West Texas Intermediate crude futures falling below $90 a barrel after previously jumping to around $120 a barrel.
The developments came as Iran announced its choice of the former leader’s son, Mojtaba Khamenei, as its new supreme leader, a decision that drew strong criticism from Trump.
The US president also talked about the possibility of US taking control of the Strait of Hormuz, which has seen chaos in shipping traffic over the past few days.
Along with these statements, other assets also rose, such as gold, which reached $5,140 an ounce, while the S&P 500 rose above 6,800 points.
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