Bitcoin rally loses steam at $81K following Trump’s pause on ‘Project Freedom’
Bitcoin price faced rejection near $82,000 as its recent rally lost momentum after United States President Donald Trump suspended “Project Freedom” work amid progress in US-Iran peace talks.
Summary
- Bitcoin faced resistance near $82,000 after Trump suspended the US military’s “Project Freedom” operation amid progress in US-Iran peace talks.
- Oil prices fell following the announcement, with WTI crude falling below $100 a barrel, while Asian stock markets rose on easing global tensions.
- The March 2026 JOLTS data exceeded expectations despite a slight decline in job openings, reinforcing expectations that US interest rates could remain high for longer.
According to data from crypto.news, Bitcoin (BTC) rose from around $80,500 to around $81,700 on Wednesday morning before settling near $81,300 at press time.
The bellwether commodity faced resistance at the $82,000 level following Trump’s announcement that the US military would temporarily suspend “Project Freedom,” an operation linked to protecting shipping lanes around the Strait of Hormuz.
The decision came as Washington explores the possibility of finalizing a peace deal with Iran after what Trump described as productive talks with representatives from Tehran.
“In light of the fact that Significant Progress has been made toward a Comprehensive and Final Agreement with Iran’s representatives, we have collectively agreed that, while the Blockade will remain in full force, Project Freedom will be temporarily suspended to see if the Agreement can be finalized and signed,” Trump wrote in a May 6 Truth Social post.
The change in tone also comes as tensions in the Middle East continue to rise, particularly after the UAE reported a second consecutive day of missile and drone attacks it attributed to Iranian-backed actors. Tehran has denied direct involvement.
After the announcement, West Texas Intermediate crude oil prices fell back below $100 per barrel, down 3.7% on the previous day, while Brent crude fell to $106.
Bitcoin price action has also remained subdued during the session as investors continue to pivot towards traditional safe-haven assets amid broader uncertainty.
Gold rose 2.6% on the day, while silver gained more than 4%. Meanwhile, Asian stock markets, including Japan’s Nikkei 225 and Hong Kong’s Hang Seng Index, edged higher as the country’s easing tensions provided relief to investors.
On the macroeconomic front, the March 2026 JOLTS report came in stronger than expected, adding another layer of complexity for the Federal Reserve.
Although job openings fell slightly to 6.866 million, the figure is still ahead of market forecasts, pointing to a strong labor market that may support higher interest rates for a longer period of time.
Disclosure: This article does not represent investment advice. The content and materials presented on this page are for educational purposes only.
