Trump Praise for Iran Talks Lifts Crypto and Drives Oil Under $70
Markets priced in a lower risk of escalation after the president’s upbeat description of Doha negotiations, leaving gains dependent on whether talks are extended or macro events reverse course.
Overview
- President Donald Trump publicly called U.S.-Iran meetings “excellent” and said Iran’s “denuclearization is well on its way,” prompting an immediate market reaction.
- Cryptocurrencies rallied with Bitcoin climbing above $60,400 and Ethereum rising about 2.8%, lifting the total crypto market capitalization to roughly $2.14 trillion.
- U.S. benchmark WTI crude fell more than 2% to trade below $70 as investors trimmed the premium they had placed on Middle East energy risk.
- Doha negotiations continue with U.S. envoys Jared Kushner and Steve Witkoff present and Qatar and Pakistan acting as mediators, and separate Iran-Oman talks also underway.
- Analysts urged caution because talks remain unfinished and prediction markets put only a partial probability on an extension, while upcoming Fed moves and other macro shocks could quickly reverse the recent repricing.