Bitcoin price lost its recent upward momentum and faced a rejection near $82,000 after US President Donald Trump suspended Operation Project Freedom amid progress in US-Iran peace talks.
Bitcoin (BTC) rose from about $80,500 to nearly $81,700 on Wednesday morning, before settling near $81,300 at the time of writing, according to data from crypto.news.
Leading assets faced resistance at the $82,000 level after President Trump announced that the U.S. military would suspend Project Freedom, an operation related to securing shipping lanes around the Strait of Hormuz.
The decision comes as Washington assesses the possibility of finalizing a peace deal with Iran after President Trump said he had productive talks with Tehran’s representatives.
“…Due to the fact that significant progress has been made toward a full and final agreement with Iranian representatives, we have mutually agreed that Project Freedom will be suspended for a short period of time to determine whether the agreement can be finalized and signed, although the blockade will remain in full force and effect,” President Trump wrote in a May 6 post on Truth Social.
This shift in tone comes as tensions in the Middle East remain high, particularly after the UAE reported two consecutive days of Iranian-backed missile and drone attacks. The Iranian government denies direct involvement.
Following the announcement, West Texas Intermediate crude oil prices fell below $100 per barrel, down 3.7% over the past day, while Brent crude oil fell towards $106.
Bitcoin price movements also remained relatively subdued during the trading period as investors continued to turn to traditional safe-haven assets amid widespread macro uncertainty.
Gold rose 2.6% on the day, while silver rose more than 4%. Meanwhile, Asian stock markets, including Japan’s Nikkei Stock Average and Hong Kong’s Hang Seng Index, edged higher as the easing of geopolitical tensions gave investors some relief.
On the macroeconomic front, the March 2026 JOLTS report delivered stronger than expected results, adding further complexity for the Federal Reserve.
Although the number of job openings fell slightly to 6.866 million, it was still higher than market expectations, indicating that the resilience of the labor market could support rising interest rates for an extended period of time.
