President Donald Trump’s upbeat comments on U.S.-Iran negotiations sent a ripple through markets Wednesday, sparking a crypto rally, weighing on oil and reshuffling flows into traditional safe havens.
Trump told reporters the talks in Qatar were “excellent,” saying Iran’s “denuclearization is well on its way” and adding, “We’ll see.” The remarks followed a Truth Social post earlier in the week that confirmed U.S. officials would meet Iranian representatives in Doha at Tehran’s request. Traders quickly re-priced the odds of a prolonged Middle East conflict, boosting risk assets.
Cryptocurrencies led the move higher:
- Bitcoin jumped more than 3% to an intraday high of $60,401 before settling around $60,120.
- Ethereum climbed about 2.8% to roughly $1,620.
- XRP added 1.5%, while Solana outperformed with a roughly 5% gain.
- The total crypto market cap rose about 2% to $2.14 trillion.
The shift to riskier assets coincided with shifts in other markets. Gold’s market value rose by more than $74 billion during the session, even as WTI crude oil dropped over 2% for the first time since U.S.-Iran tensions intensified, closing below $70 a barrel.
Analysts urged caution, noting talks are ongoing and market direction will hinge on diplomatic developments. High-profile figures remain involved: Jared Kushner and envoy Steve Witkoff are in Qatar for another round of discussions, with Qatar and Pakistan acting as mediators. Separately, Iran and Oman have set up a joint committee to address Strait of Hormuz and ceasefire-related issues — a sign negotiations are widening beyond nuclear talks.
Markets are also watching predictions and sentiment circulating on social media. Earlier this week Robert Kiyosaki’s bold March forecast — Ethereum at $95,000 by mid-2027 (with Bitcoin at $750,000, gold at $35,000 per ounce and silver at $200 in a severe global crisis) — resurfaced across crypto channels, fueling speculative chatter.
Prediction market Polymarket currently puts the probability of extending the 60-day negotiation window at about 62%, indicating traders expect diplomacy to continue but not guaranteeing a deal. For now, Trump’s positive tone and the Doha meetings have lifted risk assets, but any breakdown in talks or an unchanged 60-day deadline could swiftly reverse recent moves across crypto, oil and other markets.
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