The world’s money markets took a sharp turn in just one day because a huge peace deal stopped a potential war and made investors feel safe again. On Friday, April 17, 2026, Bitcoin (BTC-USD) surged past the $76,000 mark while oil prices (CM:CL) suffered a massive 8.3% crash. This risk-on move was triggered by an official announcement from Iran that the Strait of Hormuz, the world’s most critical oil chokepoint, is now completely open for commercial traffic.
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Iran Declares the World’s Most Vital Sea Route “Completely Open”
The global energy supply chain received its biggest boost in years as a surprise announcement from Tehran ended the naval blockade that had paralyzed regional trade.
Iranian Foreign Minister Seyed Abbas Araghchi posted on X today that the passage for all commercial vessels through the Strait of Hormuz is now “completely open” for the remainder of the current ceasefire.
U.S. President Donald Trump confirmed the news shortly after on Truth Social, describing the opening of the passage as “fully open” to commercial ships. This specific sea route is the main exit for about 20% of the world’s oil and gas, and it had been largely shut down since the conflict escalated in late February. The news has significantly lowered the war premium that had kept energy costs high for months.
Oil Prices Crater 10% as Peace Talks Spark Market Relief
The sudden promise of restored oil flows sent energy markets into a tailspin, marking the sharpest price reversal in over six weeks.
Brent crude futures plunged by over 10%, sliding to around $85 per barrel as the threat of a prolonged energy shortage began to fade. NDTV Profit reports that the global benchmark hit a low of $88.73, while U.S. West Texas Intermediate (WTI) futures fell even further to $82.93.
This collapse in oil prices is a direct result of investors betting that the ceasefire between the U.S., Israel, and Iran will hold. While the current truce is set to expire on April 22, the opening of the Strait suggests that all sides are serious about making a permanent deal.
Bitcoin Reclaims $76,000 as “Extreme Fear” Fades into a Rally
As the threat of energy-driven inflation and war-related risks begins to pull back, investors are moving their money back into the digital asset market.
Bitcoin rose to a daily high of $76,735.77 following the news, marking a 1% gain on the day and a 5% recovery for the week. The digital asset is benefiting from a sudden increase in “risk appetite” as the global market moves out of the “Extreme Fear” zone that has dominated the last few weeks.
Analysts note that lower oil prices are generally good for Bitcoin because they suggest that inflation will stay down, which makes it easier for investors to buy risky assets. While some traders are still cautious about the April 22 deadline, the current momentum is the strongest the market has seen since the ceasefire began.