Trump Claims Iran Is Collapsing and Wants to Reopen the Strait: Bitcoin on Edge

US President Donald Trump announced on his social media platform, Truth Social, that Iran had “just informed us” that it has entered a “State of Collapse.”

Moreover, he noted that the Iranian authorities want to reopen the Strait of Hormuz as soon as possible as they try to “figure out their leadership situation.”

Trump’s comments came as oil prices had skyrocketed to just over $100 per barrel earlier today. Recall that USOIL plunged below $80 11 days ago when the two sides were reportedly closer to a more profound permanent peace deal, and Iran had promised to reopen the Strait.

However, it quickly closed it again, which led to an immediate price resurgence. After Trump’s statement, though, USOIL dipped below the psychological $100 level and remains there as of press time.

Meanwhile, BTC’s price has continued its 24-hour downturn as it just slipped below $76,000 to mark a weekly low. The asset was rejected at $79,500 yesterday, and it has lost over three and a half grand since then.

In addition to the war developments, all eyes are on tomorrow’s conclusion of the third FOMC meeting for the year, in which the Fed is expected to maintain the key interest rates. However, even without changes, BTC’s price has declined after every meeting over the past year or so.

The post appeared first on CryptoPotato.