Bitcoin recovers from 3% July drop as Trump halts Iran strikes

Bitcoin edged higher Friday after reports emerged that President Donald Trump halted planned military strikes on Iran, partially reversing the 3% decline triggered when the ceasefire collapsed earlier this month.

Bitcoin rose Friday after reports that President Donald Trump halted planned military attacks on Iran, reversing some of the losses from the ceasefire breakdown earlier this month.

"The de-escalation reduces the geopolitical risk premium that had been priced into digital assets since hostilities resumed," said Nina Volkov, bitcoin macro analyst at Edgen. "Markets are pricing in a lower probability of a broader regional conflict that could disrupt energy markets and risk appetite globally."

Bitcoin had dropped more than 3% in early July when the informal ceasefire between the US and Iran fell apart and airstrikes resumed, according to CoinGecko data. The renewed violence pushed Brent crude above $100 a barrel for the first time since May and sent the US national average gasoline price to $4.10 a gallon, AAA data shows. The latest de-escalation signal comes after 13 consecutive nights of US strikes against Iranian targets, with the conflict centered on the Strait of Hormuz, a vital waterway for global energy shipments.

The halt in planned attacks follows a period of heightened tensions that saw the US Treasury sanction Nobitex, Iran's largest digital asset exchange, in June as part of a campaign dubbed "Economic Fury." Polymarket, the prediction market platform, hosted a $120 million contract on whether a permanent peace deal would be reached, with odds fluctuating based on Trump's public statements. Bitcoin's marginal upward move Friday suggests markets are awaiting more concrete confirmation of a sustained de-escalation before committing larger capital, with traders noting that the most significant volatility has historically occurred at the Monday Asian open.

This article is for informational purposes only and does not constitute investment advice.