Crude Oil Futures Plunge Over 9% Overnight; Bitcoin Surges as 120,000 Crypto Traders Liquidated

According to Guru Club, crude oil futures plunged over 9% at dawn on May 24 Beijing time, with both WTI and Brent contracts sliding sharply. Bitcoin surged over 1% to $76,655 amid the broader market reaction. Over the past 24 hours, more than 120,000 traders faced liquidation across crypto markets.

U.S. President Trump stated on social media on May 23 afternoon Eastern time that the U.S. and Iran have essentially agreed on a deal, pending final confirmation from both sides and related Islamic nations. Trump added that the Strait of Hormuz will open as part of the agreement.