Bitcoin Rises as Iran De-Escalation Hopes Lift Crypto Markets
Bitcoin moved slightly higher on Wednesday, leading gains across the cryptocurrency market after U.S. President Donald Trump signaled that the Iran war could end soon. His comments boosted sentiment across global risk assets, including crypto.
Despite a relatively quiet performance throughout March, Bitcoin has still outperformed traditional safe-haven assets like gold since the conflict began.
By 09:49 ET (13:49 GMT), Bitcoin was up 1.1%, trading at $67,978.
Trump Signals Possible End to Iran Conflict
Donald Trump stated on Tuesday evening that the United States could halt military operations against Iran within the next two to three weeks.
He claimed that U.S. objectives had been achieved, including weakening Iran’s nuclear capabilities and triggering regime change in Tehran. Trump also noted that a formal agreement with Iran may not be necessary to bring the conflict to an end.
However, uncertainty remains around the reopening of the Strait of Hormuz, a key global oil shipping route.
Hormuz Uncertainty Keeps Markets on Edge
Earlier reports suggested that the U.S. may leave the reopening of the Strait of Hormuz to European and Gulf allies. Meanwhile, Iranian officials indicated they could reopen the route but hinted at imposing tolls on vessels passing through.
This uncertainty caused volatility in oil prices on Wednesday and continues to influence global market sentiment.
Inflation Concerns and Crypto Sensitivity
Energy-driven inflation linked to the Iran conflict has been a major concern for investors. Rising oil prices could push central banks toward more hawkish monetary policies.
Such an environment is typically unfavorable for speculative assets like cryptocurrencies, which tend to perform better under looser financial conditions.
Google Warns of Quantum Computing Risks for Crypto
In a separate development, Google researchers highlighted potential long-term risks for cryptocurrencies from advances in quantum computing.
According to a recent white paper, quantum technology could eventually break elliptic curve cryptography, which underpins Bitcoin’s security.
Researchers estimate that fewer than 500,000 qubits may be needed to crack this encryption—significantly lower than earlier projections. While such capabilities are not yet available, experts suggest they could emerge by 2029.
Google has urged the crypto industry to begin preparing for a transition to post-quantum cryptography to safeguard blockchain networks.
Altcoins Follow Bitcoin Higher
The broader cryptocurrency market also moved higher, tracking Bitcoin’s gains amid optimism over de-escalation in the Middle East.
Ethereum rose 2% to $2,114.29, while XRP gained 1.6% to $1.3469. Solana and Cardano each increased by around 1%, while BNB remained largely unchanged.
Among memecoins, Dogecoin climbed 1.2%, and the $TRUMP token posted modest gains.
Although many altcoins recorded flat or slightly negative performance during March due to geopolitical tensions, the crypto sector still held up better than other risk-sensitive assets.
