Crypto prices are volatile to start the week after US President Donald Trump once again claimed progress in peace talks with Iran.
Trump’s message, posted on his platform Truth Social, was also packaged with a threat.
“The United States of America is in serious discussions with A NEW, AND MORE REASONABLE, REGIME to end our Military Operations in Iran.
Great progress has been made but, if for any reason a deal is not shortly reached, which it probably will be, and if the Hormuz Strait is not immediately ‘Open for Business,’ we will conclude our lovely ‘stay’ in Iran by blowing up and completely obliterating all of their Electric Generating Plants, Oil Wells and Kharg Island (and possibly all desalinization plants!), which we have purposefully not yet ‘touched.'”
Bitcoin (BTC) was initially up 0.8%, while Ethereum (ETH) gained 2.5%. Both turned down later in the day, with BTC at $67,749 and ETH at $2,073 at time of publishing.
Trump also teased potential progress in peace talks last week, but some Iranian officials pushed back against his claims.
On Sunday, Mohammad Bagher Ghalibaf, the speaker of the Iranian Parliament, warned about market manipulation relating to the war.
“Heads-up: Pre-market so-called “news” or “Truth” is often just a setup for profit-taking. Basically, it’s a reverse indicator. Do the opposite: If they pump it, short it. If they dump it, go long. See something tomorrow? You know the drill.”
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