The US president’s conflicting signals over a possible agreement with Iran to reopen the Strait of Hormuz, together with news of a possible truce that may permanently end the war, caused the cryptocurrency markets to jump 2.5%. At the time of writing, Bitcoin is trading at $69,700, up 4.03% in the last 24 hours as per data from CMC.
Trump threatened Iran with “living in Hell” if the Strait of Hormuz is not reopened in a post he made on Sunday on the Truth Social platform. While he did recognize that Iran is “negotiating now” in a Fox News interview, he was optimistic that a deal might be reached within the next day.
The weekly chart has given Bitcoin bulls optimism on longer time frames this week. The 200-week EMA trend line was recaptured by the weekly close, but that’s not all: a historical BTC price indicator is likely to give a significant bull signal. On a weekly timeframe, the MACD indicator suggested that Bitcoin’s most recent decline is about to turn around.
Approximately one month after the 2025 low of BTC/USD of $74,500 was reached, in May of that year, Bitcoin had its final positive weekly MACD flip. In the two months that followed, the price reached new records, rising from $94,000 to $119,000. Several analysts have pointed to important MACD parallels during Bitcoin’s two bear markets in the past, continuing the tendency.
Robert Kiyosaki, author of “Rich Dad, Poor Dad,” has said that the changes in the economy that began over fifty years ago are now starting to materialize, and he has been sounding the alarm about growing debt, inflation, and retirement concerns while simultaneously praising Bitcoin and gold. That shift, says Kiyosaki, put greater risk on people by substituting systems like 401(k)s and similar accounts for guaranteed lifelong income for many workers.
