Iran declares Strait of Hormuz fully open, Bitcoin flirts with $77K
Bitcoin surges on geopolitical developments, highlighting its sensitivity to global events and market dynamics.
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Add us on Google by Vivian Nguyen Apr. 17, 2026The Strait of Hormuz has been fully reopened to commercial shipping during the ongoing ceasefire between Israel and Lebanon, with ships required to follow a designated route established by Iranian authorities, said Foreign Minister Seyed Abbas Araghchi in a Friday statement.
In line with the ceasefire in Lebanon, the passage for all commercial vessels through Strait of Hormuz is declared completely open for the remaining period of ceasefire, on the coordinated route as already announced by Ports and Maritime Organisation of the Islamic Rep. of Iran.
— Seyed Abbas Araghchi (@araghchi) April 17, 2026
Bitcoin inched higher toward $77,000 on the news after trading earlier in the $74,600–$75,746 range, while oil prices tumbled. Crude dropped 11.5% to near $84 and Brent declined more than 10% to around $89.
President Donald Trump responded by thanking Iran for the move.
This is a developing story. Please come back for further updates.
Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.