Bitcoin Rallies 2.3% After Trump Rejects Iran Counteroffer
Fhumulani Lukoto
- 2 min read
Image credit: Unsplash
Bitcoin briefly rallied 2.3% to about $82,347 after President Donald Trump rejected Iran’s latest counteroffer as “totally unacceptable,” even as the diplomatic setback pushed oil prices higher.
BTC initially slipped after Trump’s statement, then rebounded above $82,000 before easing back toward $80,753 later in the session.
Trump Rejects Iran Counteroffer on Truth Social
Trump said Iran’s response to a U.S. peace proposal was “TOTALLY UNACCEPTABLE” in a Truth Social post.
Tehran’s counteroffer called for compensation for war damage, sanctions relief, the release of Iranian assets, an end to the U.S. naval blockade, and recognition of its sovereignty over the Strait of Hormuz.
The rejection raised doubts over a quick end to the conflict and kept pressure on global energy markets. Oil prices rose more than 3.5% after the latest diplomatic setback as traders weighed the risk of continued disruption around the Strait of Hormuz.
BTC Rebounds From $80,520 to Above $82,000
Bitcoin initially fell toward $80,520 after Trump’s comments before reversing higher and reaching an intraday high near $82,394.
The move came after BTC had already reclaimed the $80,000 level earlier in May, making the latest rebound another test of whether buyers can keep the breakout intact during geopolitical volatility.
Bitcoin later gave back part of the gain and traded near $80,753, but it remained above the key $80,000 area after the sharp intraday reversal.
Oil Rises More Than 3.5% After Trump Rejection
The Bitcoin rebound stood out because oil moved sharply higher after Trump rejected Iran’s proposal.
The Strait of Hormuz handles about one-fifth of global oil shipments, making any threat to the route a major risk for energy markets. A prolonged disruption could keep oil prices elevated and add pressure to broader risk assets.
For now, Bitcoin has held above $80,000 despite renewed geopolitical stress. The next signal is whether BTC can keep that level if U.S.-Iran tensions continue to drive oil markets and headline volatility.
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Fhumulani Lukoto
Cryptocurrency Journalist
Fhumulani Lukoto holds a Bachelors Degree in Journalism enabling her to become the writer she is today. Her passion for cryptocurrency and bitcoin started in 2021 when she began producing content in the space. A naturally inquisitive person, she dove head first into all things crypto to gain the huge wealth of knowledge she has today. Based out of Gauteng, South Africa, Fhumulani is a core member of the content team at Coin Insider.