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Investing.com -- Bitcoin hit over a three-month high on Tuesday, as risk sentiment was boosted after the U.S. said its ceasefire with Iran was still holding despite elevated tensions in the Strait of Hormuz.
Focus was also on top corporate holder Strategy’s earnings report, which showed operating loss significantly widening from a year ago, as expected. 
At 17:41 ET (21:41 GMT), Bitcoin was up 1.4% to $81,392.4, its highest level since the end of January. The world’s largest cryptocurrency reclaimed the $80k mark on Monday. 
"The $80,000 reclaim is psychologically significant, but the more important levels are just ahead: the 200-day moving average near $82,000 and ETF cost-basis references near $83,000 — the levels that would convert this move from a relief rally into something more structural," Iliya Kalchev, analyst at Nexo Dispatch, said. U.S.-Iran truce not over
The situation in the Middle East escalated quickly over the weekend and on Monday, after a U.S. military operation - dubbed "Project Freedom" - aimed at escorting commercial ships safely through the critical Strait of Hormuz was met with Iranian attacks on vessels in and around the vital waterway.

The developments threatened to upend a tenuous ceasefire between the U.S. and Iran and also pointed to continued supply disruptions due to the shuttering of the strait.

The U.S. on Tuesday calmed the mood somewhat by asserting that Project Freedom was a distinct effort solely to expedite safe passage of commercial ships through the strait.

"Project Freedom is defensive in nature, focused in scope, and temporary in duration—with one mission: protecting innocent commercial shipping from Iranian aggression. American forces won’t need to enter Iranian waters or airspace, it’s not necessary. We’re not looking for a fight," U.S. Secretary of War Pete Hegseth told reporters.

"Right now, we know we have a lane of safe passage that commercial shipping can float through," he said, adding that the ceasefire with Iran was not over.

Also helping to de-escalate tensions was some positive commentary from Iranian foreign minister Abbas Araghchi.

"Events in Hormuz make clear that there’s no military solution to a political crisis. As talks are making progress with Pakistan’s gracious effort, the U.S. should be wary of being dragged back into quagmire by ill-wishers. So should the UAE," Araghchi said on X.

While geopolitical tensions provide little direct risk for crypto, they tend to hurt prices by dampening investor appetite for overly speculative assets.

Strategy’s $14.5 billion in unrealized losses
Away from the war, focus was on Strategy’s first quarter earnings report on Tuesday.

The world’s largest corporate holder of Bitcoin saw its quarterly operating loss widen to $14.47 billion from $5.92 billion a year ago. The operating loss included unrealized losses of $14.46 billion on its digital assets.

The expected loss was largely due to fluctuations in the value of Strategy’s Bitcoin holdings, though the company grew its holdings 22% Y/Y to 818,334 bitcoins at the end of the quarter.

Strategy Chair Michael Saylor on Sunday said the company paused its weekly Bitcoin purchases ahead of its Q1 earnings.

Coinbase to cut 14% of workforce in AI-focused restructuring
Coinbase on Tuesday said it plans to lay off roughly 700 employees, or about 14% of its global workforce, as the cryptocurrency exchange looks to cut costs and reorient its business around artificial intelligence.

The company expects the process to be largely complete by the end of the second quarter, with associated charges of $50 million to $60 million, mostly covering severance and employee benefits.

It said that additional costs could arise from unforeseen factors related to the restructuring, with most charges expected to be recognized in the current quarter.

Coinbase shares closed 2.6% lower.

The move comes amid a broader slowdown in crypto trading volumes following a pullback in digital asset markets from their peak last October, as investor appetite has grown more cautious.

2026年5月3日、トランプ大統領は「プロジェクト・フリーダム」を発表しました。この海上作戦は、商船をホルムズ海峡から安全に「ガイド」することを目的としています。この動きは、ペルシャ湾に数百隻の商船が取り残される結果となった数ヶ月間の地域的緊張の後に行われました。

​計画の重要な詳細は以下の通り：

​ミッション：「プロジェクト・フリーダム」

​主要目的：中立の商船とその乗員を、アメリカ、イスラエル、イラン間のongoing conflictのクロスファイアから避難させること。