Bitcoin Climbs Above $69K on Ceasefire Optimism
Bitcoin moved above $69,000 on Monday as reports emerged that the U.S. and Iran had received a potential ceasefire framework. The development raised hopes for a reopening of the Strait of Hormuz and boosted overall risk appetite across financial markets.
The world’s largest cryptocurrency was last trading 3.6% higher at $69,281 as of 10:14 ET (14:14 GMT).
Ceasefire Framework Lifts Market Sentiment
According to reports, both the U.S. and Iran were presented with a proposal aimed at ending hostilities. The framework, reportedly coordinated by Pakistan, outlines a two-stage process—starting with an immediate ceasefire followed by broader negotiations toward a long-term settlement.
Earlier reports also indicated discussions around a potential 45-day ceasefire agreement that could eventually lead to a permanent resolution of the conflict.
Trump Deadline Keeps Pressure on Markets
Despite the positive developments, Donald Trump maintained pressure on Tehran, setting a Tuesday evening deadline for Iran to reopen the Strait of Hormuz.
Trump warned that failure to comply could result in targeted strikes on key infrastructure, including power plants and bridges. This continued geopolitical tension remains a key driver of market volatility.
Strong U.S. Data Supports Rate Outlook
Investors also reacted to stronger-than-expected U.S. payrolls data released on Friday. The robust labor market figures reinforced expectations that the Federal Reserve may keep interest rates elevated for a longer period, influencing both traditional and crypto markets.
Strategy Expands Bitcoin Holdings
Strategy added 4,871 BTC to its balance sheet last week, purchasing the coins at an average price of approximately $67,718 for a total investment of $329.9 million.
The company now holds a total of 766,970 BTC, acquired at an average cost of $75,644 per coin, according to executive chairman Michael Saylor.
With Bitcoin trading near $69,000, the position currently reflects an unrealized loss of around 8%, equivalent to roughly $5 billion.
Altcoins Rally as Risk Appetite Improves
The broader cryptocurrency market also moved higher, supported by improved sentiment.
- Ethereum rose 5% to $2,140
- XRP gained 4.6% to $1.34
- Solana increased around 4%
- Polygon added roughly 3%
- Cardano jumped nearly 6%
- Dogecoin advanced over 2%
