A senior Trump official puts odds of a US-Iran peace deal at 80-85%. Bitcoin rallies as oil drops 6% on hopes of the Strait of Hormuz reopening.

Trump says the Strait of Hormuz will reopen quickly upon signing a deal with Iran, potentially easing oil prices and boosting crypto market sentiment.

Trump says Iran's supreme leader approved a US-Iran deal to lift the naval blockade on the Strait of Hormuz. Bitcoin rallied on the news as signing nears.