The post Iran Declared the Strait of Hormuz “Completely Open” Bitcoin Jumps to $78K appeared first on Coinpedia Fintech News
After nearly two months of conflict between the US, Israel, and Iran, Iran finally declared the Strait of Hormuz “completely open” for all commercial vessels on April 17, 2026, sending a wave of relief across global markets.
Bitcoin responded almost instantly, jumping from around $75,000 to $78,000, a surge of nearly 5.2%, as investors rushed toward risk assets on the back of easing geopolitical tension.
What Iran’s Foreign Minister Said
On 17 April, Iranian Foreign Minister Abbas Araghchi took X to make the announcement official. He stated that in line with the ongoing ceasefire in Lebanon, all commercial vessels are now free to pass through the Strait of Hormuz for the remaining period of the U.S.-Iran truce, which is currently set to expire on April 22.
The move came one day after U.S. President Donald Trump announced a 10-day ceasefire between Israel and Hezbollah in Lebanon, a development that appears to have set off a broader chain of diplomatic easing across the region.
Trump welcomed the news almost immediately, posting on social media in capital letters:
“Iran has just announced that the Strait of Hormuz is fully open and ready for full passage. Thank you.”
Why It’s Important For the World?
The Strait of Hormuz is not just another shipping lane. It is the single most important oil corridor on the planet.
Before the U.S. and Israel launched their military attack on Iran on February 28, 2026, roughly 20% of the world’s entire crude oil supply passed through this narrow stretch of water every single day. Along with a large share of global LNG exports, mostly from Qatar.
When Iran effectively shut it down in response to the attack, daily ship traffic collapsed from over 100 vessels per day to single digits. The economic damage was immediate and severe.
Now that the Strait is open again, oil and gas shipments can move normally. This helps stabilize supply, ease energy prices, and improve overall market confidence.
Bitcoin and Crypto React Fast
Crypto markets reacted quickly, with the total market cap rising about 5% to $2.63 trillion. Bitcoin also moved higher, jumping to $78,000 after bouncing from its recent range near $75,000.
Major altcoins followed the same trend, with Ethereum, Solana, XRP, and others gaining around 6% to 10%.
The move shows a clear “risk-on” shift, where improving sentiment pushes investors back into crypto and other high-risk assets.
