Bitcoin BTC$68,358.29 It maintained its gains on Monday after an initial surge above $70,000, but the fate of the rebound now rests on future developments between the US and Iran.
The move comes after US President Donald Trump announced a five-day moratorium on attacks on Iran’s energy infrastructure, citing “productive” diplomatic negotiations.
Iranian officials denied the existence of talks, but markets largely ignored them, with risk assets holding firm throughout the session.
Bitcoin remained just below $71,000 late in the session and has risen 3.8% over the past 24 hours. Altcoins are Ether (ETH), Solana (SOL), doge$0.09045 Each will increase by approximately 5%.
Cryptocurrency stocks also rose, led by Bitcoin miners, whose trades are increasing as AI infrastructure moves. Hut8 (HUT) rose more than 11%, while BitFarms (BITF), Cipher Mining (CIFR), CleanSpark (CLSK), Riot Platforms (RIOT), and Terrawolf (WULF) rose 6% to 7%.
Traditional markets joined in the rally, with the S&P 500 and Nasdaq both closing up about 1.2%.
Although a temporary pause has eased pressure on the energy market, traders need to carefully manage the rebound in risk assets.
“The macro ceiling has changed,” said Jasper de Meere, an OTC trader at Wintermute. “How much room opens up depends on the next five days.”
He said that once oil prices stabilize and shipping flows through the Strait of Hormuz normalize, inflation concerns will ease, expectations for interest rate cuts will return, and a major headwind for cryptocurrencies could disappear.
In that scenario, Demer said, Bitcoin could rise again in the $74,000-$76,000 range, the level that has capped its gains in recent weeks.
He said a breakdown in negotiations or new disruptions to energy supplies would have the opposite effect. Perhaps oil prices will rise again, increasing inflation risks and causing the market to return to risk-off mode, potentially pushing Bitcoin back into the mid-$60,000 range.
