Bitcoin climbs as Trump grants five days for Iran negotiations
Synopsis
Bitcoin and other digital currencies saw a surge. This happened after US President Donald Trump announced a delay in strikes on Iran. Global markets, including stocks and bonds, also rebounded. Analysts suggest de-escalation in the Middle East could stabilize markets. This development brought relief to investors and eased concerns about regional conflict.
Bitcoin rose along with Treasuries and stock futures after US President Donald Trump said he’d postpone strikes on Iranian energy power plants and energy infrastructure for five days.
The biggest cryptocurrency advanced as much as 4.8% and traded at around $70,200 in early New York morning on Monday. Smaller tokens including Ether and Solana also rose.
Bitcoin had earlier been fluctuating around a two-week low, sliding as far as $67,371 – its lowest level since March 9 – in Asia trading. The token has been volatile since the conflict in Iran began in late February, at one point jumping to a high of nearly $76,000 before tumbling once more as tensions in the region escalated.
Crypto TrackerTOP COINS (₹) Ethereum199,852 (3.68%)Bitcoin6,601,629 (3.47%)XRP133 (2.37%)BNB59,522 (1.33%)Tether93 (-0.52%) Stocks and bonds rebounded following Trump’s comments that the US and Iran had “very good” conversations about an end to the war.
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View Details » Flows that have been supporting Bitcoin’s price over the last fortnight had weakened going into Monday, with inflows into US exchange-traded funds tied to the cryptocurrency turning negative. “A potential catalyst to stabilise the markets for now would be some sort of de-escalation in the Middle East, or at minimum a resumption of normal traffic through the Strait of Hormuz,” analysts on Laser Digital’s derivatives trading desk wrote in a note on Monday.
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“This could set off a chain of oil price stabilisation, followed by rates consolidation and improved risk sentiment,” they added. “Minus this, crypto markets are likely to stay heavy.”
Trump on Monday said representatives from Iran reached out to start talks with the US because they were eager to make a deal after his threat to strike energy facilities. But Iran’s parliament speaker, Mohammad Bagher Ghalibaf, on Monday said in a social media post that the US president’s claims were fake news “used to manipulate the financial and oil markets.”
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