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Geopolitics and the Crypto Market: How the U.S.-Iran Hormuz Strait game is affecting Bitcoin’s price movement

On May 4, 2026, US President Trump made a high-profile announcement to launch a “Freedom Plan,” intending to guide merchant ships trapped in the Strait of Hormuz to pass through. The plan called for deploying missile destroyers, more than 100 sorties of aircraft, and about 15,000 active-duty servicemembers. However, less than 48 hours after the plan was implemented, Trump announced a suspension, citing “major progress in the comprehensive US-Iran agreement.” But Iran’s stance was very different:
BTC0.93%
GateInstantTrends·11h ago
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