Bitcoin trimmed earlier losses while major stock markets recovered after reports that Iran is working with Oman on a protocol to manage traffic through the Strait of Hormuz. The development eased fears of disruptions to one of the world’s most important oil shipping routes, helping risk markets stabilize.
Bitcoin traded near $66,900, down about 3%, with ether near $2,060, also lower by roughly 3% over the past 24 hours.
Iran-Oman Protocol Eases Shipping Route Concerns
Iranian officials said the proposed measures are intended to coordinate ship movement and ensure safe passage rather than restrict traffic. Deputy Foreign Minister for legal and international affairs Kazem Gharibabadi explained that even under normal conditions, vessel traffic should be monitored and coordinated with coastal states such as Iran and Oman to improve safety and services.
The update followed earlier remarks from President Donald Trump, who pledged overnight to continue the war against Iran and warned that the Strait of Hormuz would “open naturally” once the conflict ends.
Oil, Crypto, and Stocks React to Geopolitical Signals
WTI crude oil, which had surged to nearly $106 per barrel, dropped about $5 to $6 per barrel after the shipping coordination news.
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