Following a few weeks of escalations, new threats, and strikes, United States President Donald Trump has reportedly ordered its military to stand down instead of carrying out the planned attacks for tonight.

The crypto focus is back on bitcoin, which has typically shown a positive reaction to similar developments. However, the actual impact might be felt after at least 24 hours.

As reported by Axios, the reason for tonight’s withdrawal from new military action is the recently resumed talks on the Strait of Hormuz.

Large media sites suggested yesterday that Oman has initiated talks with Iran to reopen the key Strait, and some sources claimed that major progress has been made over the past day. It appears Trump wants to see how it resolves before deciding whether or not the US will continue with its attacks.

The primary cryptocurrency is prone to reacting to any sort of news on the war front. Renewed attacks typically lead to price corrections, while the reemergence of hope for a deal, ceasefire, or even more permanent peace, have resulted in major rallies.

The tricky part is the timing. Aside from the initial shock when the war started in late February, the asset has remained relatively stable when the new developments took place over the weekend. Instead, its actual fluctuations in either direction transpire on Monday morning when most traditional financial markets start to open.

Consequently, even though it has defended the $64,000 support now, which many analysts believe is key for its next big move, the bigger reaction is likely to take place in 36 hours.

Source: CryptoPotato