Trump’s remarks about “talks with Iran’s new government” spur a short-term rise in Bitcoin

Major cryptocurrencies including Bitcoin (BTC) posted a short-term uptick after President Trump’s comments related to Iran. With expectations for progress in negotiations emerging alongside hawkish rhetoric, market volatility appears to be rising.

According to CoinDesk, a cryptocurrency-focused media outlet, Bitcoin climbed after Trump’s remarks, rising to as high as $67,800 on the 30th. Ethereum gained 3.1% to $2,064, while over the same period Solana rose 1.9% and XRP advanced 1.0%.

On the day, Trump said on Truth Social that “the U.S. is holding serious discussions with a more reasonable new government in Iran to end military operations, and we’ve made significant progress.”

He added that “there is a high likelihood a deal will be reached soon, but if not, unless the Strait of Hormuz is opened immediately, Iran’s power plants and oil fields, Kharg Island and more will be completely destroyed,” signaling the possibility of a hard-line response.

Markets are assessing that with both the prospect of progress in talks and threats to strike energy infrastructure put on the table at the same time, volatility across risk assets has been widening.

Meanwhile, short liquidations also surged during the rally. Over the past 24 hours, about $340 million in liquidations occurred, with a significant share coming from short positions.