One of the more unusual voices to enter the global trading conversation during the US-Israel-Iran war came from an unexpected place – Iran’s own Parliament Speaker.
Mohammad Bagher Ghalibaf posted on X on March 30, in what has since garnered 14.8 million views.
“Heads-up: Pre-market so-called ‘news’ or ‘Truth’ is often just a setup for profit-taking. Basically, it’s a reverse indicator. Do the opposite: If they pump it, short it. If they dump it, go long. See something tomorrow? You know the drill.”
Within hours, the post proved itself. S&P 500 futures opened nearly 1% lower at 6:00 PM ET. By 11:00 PM, losses had been erased. Then, Trump posted on Truth Social that “great progress has been made” in discussions with what he described as “a new, and more reasonable, regime” in Iran.
The S&P climbed more than 100 points from its overnight low, adding roughly $900 billion in market capitalization.
The Strait of Hormuz Is Crypto’s Most Important Variable
Bitcoin tracked the same script. When Trump’s “great progress” post landed, Bitcoin climbed as high as $67,800, amid $340 million in total liquidations across exchanges.
The reverse also holds. When Iran rejected the US 15-point peace proposal and reaffirmed the Strait of Hormuz remains closed, Bitcoin slid back. QCP Capital confirmed in a note that Bitcoin has been trading in a $65,000 to $70,000 band throughout the conflict, rising on peace signals and falling on escalation, with price action “drifting lower into weekends as positioning is pared” before stabilizing at the start of each week.
Also Read: Ethereum May Lose Its #2 Spot in 2026: Can USDT, XRP, BNB, or SOL Take It?
The Strait is the direct transmission mechanism. Around 20% of global oil supply passes through it. With it effectively closed since February 28, Brent crude surged above $114, driving inflation concerns that push the Fed further from rate cuts and weigh on all risk assets including crypto. Today, with diplomatic optimism filtering through, Brent has pulled back to $106.93.
Bitcoin is currently trading at $66,352, down 1.61% over the past 24 hours.
Five Weeks, Same Pattern
This is not a one-off. The week before Ghalibaf’s post, Trump claimed on Truth Social that the US and Iran were in “VERY GOOD AND PRODUCTIVE CONVERSATIONS.” US equities rose and oil fell. By the end of that week, the S&P was lower and oil was higher.
Ghalibaf himself noted on March 28 that repeated peace signals had made the market “numb,” and that “real prices will show up anyway.”
What’s the Next Test?
Trump has now extended his Strait of Hormuz deadline to April 6.
But the Wall Street Journal reported today that Trump told aides he is willing to end the military campaign in Iran even if the Strait remains largely closed – a signal that shifted the market’s entire read on what April 6 actually means. S&P 500 futures climbed 0.8% on the report. WTI crude erased its earlier gains. Bitcoin held at $67,545.
For crypto, a ceasefire without Hormuz reopening is a mixed signal. It removes the headline risk that has kept Bitcoin range-bound, but a closed Strait would keep oil elevated and inflation expectations sticky – complicating the rate cut path the market has been waiting for.
Greeks.live analysts noted the market has entered a ‘wait-and-see mode,’ adding that what Trump says next on Iran remains the single most important volatility trigger for crypto.
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