Bitcoin Surges as Trump Confirms “Good Meeting” with Iran amid Hormuz Opening Proposal

Bitcoin climbed above $87,000 on Wednesday as traders reacted to President Donald Trump’s confirmation of a “very good meeting” with Iran’s officials on the sidelines of the UN General Assembly. Falling oil prices, spot Bitcoin ETF inflows, and derivatives interest are bolstering positive sentiment for a broader crypto market rally.

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Trump Says Good Meeting Between US and Iran at UN General Assembly

Trump said U.S. envoys Steve Witkoff and Jared Kushner held a three-hour meeting with Iranian representatives, including Foreign Minister Abbas Araghchi. He stated the meeting was “very good” and “very productive.” He even revealed that another round of talks is scheduled in the near future.

The president said there was “a lot of momentum” toward a deal and framed Iran’s choice as one between rebuilding or facing severe consequences. Iranian media reported that Iran re-presented conditions that included lifting the U.S. naval blockade, unfreezing assets, and ending the war on multiple fronts.

As CoinGape reported yesterday, Iran proposed reopening the Strait of Hormuz within 7 days if the US takes initial steps to ease tensions, including military operations. Iran’s President Masoud Pezeshkian is to attend the meeting today, with an address citing that the regime acted in self-defense.

Representatives of other countries, including EU European Commission Vice President Kaja Kallas and Switzerland Vice President Ignazio Cassis, talked with Abbas Araghchi about ending the US-Iran war and fully reopening the Strait of Hormuz.

Jordan's King Abdullah says the regional meeting with Trump was "very good," gives me a fingers crossed🤞on whether an Iran deal is possible pic.twitter.com/pFJErV5E43

— Elizabeth Hagedorn (@ElizHagedorn) September 22, 2026

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Bitcoin Jumps Above $87,000 Today

Markets treated the news as a de-escalation signal. Bitcoin rose another 1% to reclaim $87,000, extending the rally to almost 8% in a week. The broader crypto market, with Ethereum (ETH), XRP, Solana (SOL), and Zcash (ZEC), participated in the rebound.

The latest talks followed earlier upside momentum as Trump announced a proposed $5 billion Gulf reconstruction fund aimed at energy infrastructure damaged during the US-Iran war.

Oil prices also dropped further to $89 per barrel today, the sixth straight day, amid the UN General Assembly meetings. Saudi Arabia also plans to restore flows through its vital East-West pipeline.

Bitcoin is currently trading around $87,200 with an intraday high of $87,251. Trading volume has dropped 32% as traders await Fed officials’ speech for inflation cues.

Notably, Trump earlier said a final decision on a broader Iran deal could come after the November midterms, leaving markets focused on whether the latest talks produce concrete steps on the Strait of Hormuz and sanctions.

Derivatives markets revealed rising Bitcoin futures open interest, as per Coinglass data. BTC futures OI climbed more than 1% to $61.40 billion in 24 hours. The futures OI jumped more than 5% on CME and 6% on Hyperliquid, but dropped almost 2% on Binance.

As political situations shift rapidly, many macro traders rely on the best geopolitical prediction markets to place speculative bets on the final outcomes of these international negotiations.