Oil and cryptocurrency markets recorded mixed reactions on Monday following President Donald Trump’s Project Freedom announcement.
Crude oil indices saw modest declines, while the world’s largest cryptocurrency rose to $80,000 in early Asian trading hours.
Risky assets rise due to Trump’s freedom project
According to the market DataBrent crude fell 0.16% to $108 a barrel. West Texas Intermediate (WTI) crude oil was down 0.29% to $101 at press time.
Bitcoin It rose to $80,000 before It settled at $79,715 at the time of writing. The asset rose 1.9% over the past day.
President Trump on Sunday announced the “Freedom Project.” The process is centered on neutral escort Exit of foreign ships The Strait of Hormuz, where ships are stranded amid tensions between the United States and Iran.
The project is scheduled to begin Monday morning Middle Eastern time. He framed the initiative as a humanitarian gesture. Trump too He warned against any interference It will be met with force.
He added: “Countries from all over the world, almost all of which are not involved in the ongoing conflict in the Middle East that is so clearly and violently visible for all to see, have asked the United States to help free their ships detained in the Strait of Hormuz, in something they have absolutely nothing to do with.” books.
Following Trump’s post, US Central Command (CENTCOM) confirmed that it would deploy guided-missile destroyers, more than 100 aircraft, unmanned platforms, and 15,000 troops to support the mission.
“The mission, managed by the President, will support commercial ships seeking to transit freely through the primary international trade corridor,” he added. mail He reads.
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Meanwhile, Trump sounded an optimistic note about the diplomatic track, saying his representatives were holding “very positive” discussions with Tehran that could yield a constructive outcome for all parties.
But Iran expressed a different point of view. Ibrahim Azizi, a senior Iranian lawmaker, warned that any US intervention in the Strait of Hormuz would be treated as a violation of the current ceasefire.
“The Strait of Hormuz and the Persian Gulf will not be managed by Trump’s delusional statements! No one will believe the blame game scenarios!” he He said.
Attention is now turning to launching the operation and how Iran will respond on the ground. Oil prices and risky assets remain highly reactive to these developments.
Therefore, any escalation or breakthrough in the Strait of Hormuz could occur Trigger moves across Crude oil, stocks and cryptocurrency markets.
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this post Bitcoin rises to $80,000 as Trump’s Freedom Project pressures oil prices appeared first on BeInCrypto.
