Iran declares Strait of Hormuz fully open, Bitcoin flirts with $77K

The Strait of Hormuz has been declared completely open to commercial traffic for the duration of the Israel–Lebanon ceasefire, according to Iran’s Foreign Minister Seyed Abbas Araghchi. He said vessels must use an Iran-coordinated transit route.

In line with the ceasefire in Lebanon, the passage for all commercial vessels through Strait of Hormuz is declared completely open for the remaining period of ceasefire, on the coordinated route as already announced by Ports and Maritime Organisation of the Islamic Rep. of Iran.

— Seyed Abbas Araghchi (@araghchi) April 17, 2026

Bitcoin inched closer to $77,000 on the news, rising from a trading range of $74,600 to $75,746 earlier today. Oil prices began sliding from levels that had driven up costs across the global economy for weeks.

President Donald Trump responded by thanking Iran for the move.

This is a developing story. Please come back for further updates.

Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.

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