President Trump ordered the US military not to carry out planned strikes on Iran on Friday night, despite having previously approved the operation. The decision came as talks mediated by Oman over reopening the Strait of Hormuz reportedly resumed. For crypto markets, the development is a potential positive — Bitcoin has historically rallied on ceasefire hopes and sold off on renewed attacks. The asset defended the $64,000 support level, which analysts consider key for its next major move.
The decision to stand down
The strikes were reportedly approved earlier in the week, but Trump pulled back after learning that Oman had re-engaged with both sides. The Strait of Hormuz, a critical chokepoint for global oil shipments, has been a flashpoint in US-Iran tensions for months. The Omani mediation effort isn't new — it's been used before to de-escalate — but the timing of this round caught Washington by surprise. The White House has not commented on the details, but the military was told to stand down late Friday local time.
Bitcoin's reaction
Bitcoin barely budged on the news. It was already trading around $64,000, and it stayed there. That's notable because the asset has a track record of reacting sharply to Iran-related headlines. In past flare-ups, Bitcoin dropped 5-10% within hours; when talks looked promising, it bounced. The lack of a big move this time suggests the market is waiting for more clarity. The actual impact may take 24-36 hours to show up, as traders often wait for traditional markets to open on Monday before pricing in geopolitical shifts.
The Strait of Hormuz talks are the immediate variable. If they gain traction, oil prices could ease and risk assets — including crypto — could get a relief bid. If they collapse, the strike threat returns. For now, Bitcoin's $64,000 support is the line in the sand. A break below that would likely accelerate selling. But with the weekend ahead and no fresh headlines, the market is in a holding pattern. The next concrete event is Monday's open in Asia, where the first real test of sentiment will come.
