Bitcoin trims big loss, stocks erase 2% decline, as Iran signals cooperation on key shipping route

Markets Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Bitcoin trims big loss, stocks erase 2% decline, as Iran signals cooperation on key shipping route In the middle of a surge higher following President Trump's overnight comments, the price of WTI crude oil quickly fell nearly $6 per barrel on the news. By Helene Braun | Edited by Stephen Alpher Apr 2, 2026, 3:08 p.m. Make preferred on Iran comments ease Strait of Hormuz concern (Gerhard Traschütz/Pixabay) What to know : Reports Thursday that Iran is working with Oman on a protocol to manage traffic through the Strait of Hormuz have risk markets quickly erasing large early losses. Iranian officials said the proposed measures are meant to coordinate and ensure safe passage rather than restrict it. Sharply higher following President Trump's promise overnight to continue the war against Iran, the price of WTI crude oil fell about $5 per barrel on the report. The Nasdaq mostly erased an early 2% loss Thursday after reports that Iran is drafting a protocol with Oman to manage traffic through the Strait of Hormuz, easing concerns about disruptions to a key global oil route. WTI crude oil — which had surged to nearly $115 per barrel as President Trump vowed to continue the war against Iran — fell about $5 on the news. Crypto prices trimmed losses alongside, but remained sharply lower over the past 24 hours. Bitcoin BTC $ 66,741.41 at $66,700 is lower by 3%, and ether (ETH) at $2,060 is down by the same amount. Iranian officials framed the move as a matter of coordination rather than control. The country's deputy foreign minister for legal and international affairs, Kazem Gharibabadi, said that even under normal conditions, ship traffic through the strait should be monitored and coordinated with coastal states like Iran and Oman to ensure safety. He added that the proposed measures are not intended to restrict passage, but to "facilitate and ensure safe passage" and improve services for vessels moving through the route. The remarks come after U.S. President Trump on Wednesday night vowed to hit Iran "extremely hard” in the coming weeks and that the Strait of Hormuz would "open naturally" once the war ends. Bitcoin BTC $ 66,741.41 fell after Trump's remarks and continues to trade about 2% lower over the past 24 hours, in line with crypto stocks, including Coinbase (COIN) and Robinhood (HOOD). More For You Encryption Supremacy: Zcash and Privacy in the Age of Scale By CoinDesk Research Mar 31, 2026 Commissioned by GenZcash Most crypto privacy models weaken as blockchain data grows. Encryption-based models like Zcash strengthen. CoinDesk Research maps the five privacy approaches and examines the widening gap. Why it matters : As blockchain adoption scales, the metadata available to machine learning models scales with it. Obfuscation-based privacy approaches are structurally degrading as a result. This report provides a comprehensive comparison of all five major crypto privacy architectures and a framework for evaluating which models remain durable as AI capabilities improve. View Full Report More For You Oil shock, Iran war risk keep crypto investors on sidelines: Grayscale By Will Canny , AI Boost | Edited by Jamie Crawley 1 hour ago The crypto asset manager said investors are sidelined by Middle East tensions, but resilient valuations and structural adoption trends could set up the next leg higher. What to know : Grayscale said geopolitical risk, and a sharp oil shock, is delaying rate-cut expectations and keeping investors cautious. Crypto has held steady despite broader market stress, with modest inflows and rising derivatives activity signaling resilience. Grayscale sees potential upside once uncertainty clears, calling the current environment a possible entry point for... 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