Bitcoin Tops $77,000 After Iran Says Strait of Hormuz Is "Fully Open" During Ceasefire

Bitcoin jumped above $77,000 as signs of easing Middle East tensions lifted risk sentiment after Iran said the Strait of Hormuz was "fully open" during the ceasefire. The cryptocurrency touched its highest level in nearly two months and was up about 5% over the past 24 hours, according to ChainCatcher. Major altcoins rallied alongside it, with Ethereum, XRP and Solana each gaining roughly 6%. Iranian Foreign Minister Seyed Abbas Araghchi said that during the ceasefire with Lebanon, commercial vessels may transit the strait as long as they follow Iran-designated "coordinated routes." The Strait of Hormuz carries about 20% of global oil shipments and is a key energy artery. Traditional markets also reflected stronger risk appetite, with the S&P 500 and Nasdaq Composite closing at fresh all-time highs. U.S. President Trump wrote on social media that "the Strait of Hormuz has been reopened for commercial activity," while adding that Iranian vessels could still face blockades until a U.S.-Iran agreement is fully implemented.