Bitcoin has experienced a substantial recovery, rising from a low of $74,250 to about $76,800 after President Donald Trump announced that a peace agreement with Iran has been largely negotiated. This announcement, made on Truth Social, included the reopening of the Strait of Hormuz, a vital oil passage whose closure has significantly influenced energy prices and the cryptocurrency market. Following the announcement, the total crypto market capitalization increased by approximately $75 billion. The peace deal involves negotiations among the United States, Iran, and several Middle Eastern nations, including Saudi Arabia and Qatar. US Secretary of State Marco Rubio emphasized the importance of Iran not obtaining nuclear weapons and the need for the Strait to remain toll-free. Oil prices reacted swiftly, with WTI crude dropping to $96 per barrel from previous highs. A finalized peace deal could alleviate inflation pressures and potentially lead to renewed investments in Bitcoin ETFs, reversing recent outflows. The current focus remains on the $77,000 price level for Bitcoin, which is crucial for maintaining bullish market sentiment.