U.S. President Donald Trump has predicted that the war with Iran will end “very soon” after American officials spoke with mediators working on a deal to reopen the Strait of Hormuz.
Summary
- Summary
- Trump predicted the U.S. would win the Iran war “very soon” after officials spoke with mediators.
- Talks continue over an amended plan to reopen the Strait of Hormuz, but no ceasefire has been announced.
- Trump denied offering Iran sanctions relief or frozen funds for nuclear concessions.
- Bitcoin traded near $83,081 as major cryptocurrencies fell and U.S. Treasury yields remained in focus.
Reuters reported that Trump made the prediction in the Oval Office on Monday, Sep. 28, while describing the United States as headed for victory. “We’re going to win, as far as I’m concerned, it’s going to be one way or the other,” he told reporters. His remarks did not announce a ceasefire or an agreement with Tehran.
Iran’s proposal remains the starting point for the indirect talks. Foreign Minister Abbas Araghchi said Tehran had sent a plan through mediators that could reopen Hormuz within seven days of Washington accepting its conditions. Trump rejected the initial offer, but mediators have continued discussing changes with both governments.
Hormuz talks turn to changes in Iran’s seven-day plan
Araghchi presented the proposal during the United Nations General Assembly in September. Under the terms he described, hostilities would stop before Iran reopened the strait and the two countries began talks on Tehran’s nuclear program. The plan also called for the United States to lift its naval blockade, provide sanctions waivers for Iranian oil and release at least $12 billion in frozen Iranian assets.
Trump dismissed the offer on Sep. 26. As crypto.news previously reported, both sides kept diplomatic channels open after his rejection, even as the disagreement put renewed pressure on Bitcoin. The proposal had made Hormuz a first step toward talks on the remaining issues, including sanctions and Iran’s nuclear activities.
Mediators have since circulated an amended approach, according to the Financial Times. Discussions have included when Iran would restore passage through Hormuz and when Washington would ease its blockade and other economic restrictions. The order of those steps remains a point of disagreement, while the United States is seeking terms addressing Iran’s nuclear program.
Trump separately disputed reports that he had offered sanctions relief or access to frozen Iranian funds in return for nuclear concessions. “I offered them NOTHING,” he wrote on Truth Social on Monday. His denial addressed what Washington had offered; it did not withdraw his statement that U.S. officials had spoken with mediators.
The latest proposal draws on a June agreement that did not hold. In its earlier Hormuz coverage, crypto.news reported that Washington and Tehran had reached a memorandum providing for commercial vessels to use the waterway while the two sides negotiated further terms. The arrangement broke down amid disputes over control of shipping routes, and Trump later said the ceasefire was over.
Iran holds to economic demands as its currency falls
Iranian officials have continued to tie any settlement to changes in U.S. economic and military measures. Araghchi has said Tehran is willing to pursue a diplomatic resolution, while Ebrahim Azizi, the head of parliament’s security commission, has challenged Trump’s account of how the war will end. Neither government has announced agreed terms for a ceasefire or for passage through Hormuz.
The economic pressure on Tehran has increased during the talks. The Associated Press reported that the rial fell below 2.5 million per U.S. dollar on Tuesday, a record low, as the war, sanctions and a U.S. naval blockade restricted Iranian oil exports. U.S. officials have argued that the measures limit Iran’s ability to continue fighting.
Hormuz also matters directly to U.S. households because disruption to oil shipments has kept fuel costs in focus. Trump predicted that oil and gasoline prices would fall after the war ends. For now, the forecast depends on an outcome that negotiators have yet to secure: an agreement on the strait, the blockade and the terms for further talks.
Bitcoin holds near $83,000 as U.S. yields pressure crypto
Trump’s latest comments produced no clear immediate move across major cryptocurrencies in the market snapshot cited by the original report. Bitcoin traded near $83,081, Ethereum around $2,680, and XRP near $1.48, each down more than 1.5%. The snapshot also pointed to a rise in the U.S. 30-year Treasury yield; it does not establish that Trump’s remarks or the yield move alone caused the token declines.
The U.S. rate backdrop matters to American investors holding crypto directly or through listed funds. On Sep. 25, crypto.news reported that the 10-year Treasury yield had reached 5.20% during the previous session, while the 30-year yield closed at 5.47%. Bitcoin was near $84,000 after pulling back from the $87,000 area, despite recent inflows into U.S. spot Bitcoin exchange-traded funds.
Earlier in the week, Bitcoin’s decline below $84,000 followed Trump’s rejection of Iran’s offer. The Sep. 28 report recorded $2.39 billion in net inflows to U.S. spot Bitcoin ETFs over the five trading days through the preceding Friday. Ethereum had also retreated after trading above $2,700, while XRP was near $1.50 at the time of that report.
Oil prices have moved with expectations about the strait. When Iran signaled on Sep. 22 that Hormuz could reopen within a week, West Texas Intermediate crude fell more than 2.5% to around $89 a barrel, and Brent slipped below $98, according to the earlier crypto.news report. On Sep. 29, Reuters reported Brent at $106.77 and U.S. crude at $93.94 as the conflict continued to disrupt supply.
