Bitcoin Holds Near $67K as Markets Monitor Iran War Escalation
Bitcoin posted modest gains on Monday, stabilizing after a volatile weekend as traders remained cautious and looked for further developments in the U.S.-Israel conflict involving Iran.
The world’s largest cryptocurrency had dropped below the $70,000 level last week, reflecting weak risk appetite and ongoing uncertainty surrounding U.S. regulatory developments.
By early trading, Bitcoin was up 1.1% at $67,391, showing signs of short-term recovery.
Iran Conflict Escalation in Focus
Markets are closely watching the potential expansion of the conflict, particularly after the Iran-backed Houthi group in Yemen launched missile strikes on Israel over the weekend.
The involvement of the Houthis raises concerns about a broader regional conflict, especially given their ability to disrupt key shipping routes in the Red Sea.
At the same time, U.S. President Donald Trump stated that negotiations with Iran were progressing positively and suggested that a potential ceasefire could be near, although no timeline was confirmed.
Trump also noted that Iran had allowed 20 oil tankers to pass through the Strait of Hormuz, signaling a possible concession.
However, Iran has denied engaging in direct negotiations, while also accusing the United States of preparing for a ground invasion following the deployment of additional troops to the Middle East.
Bitcoin Struggles to Maintain Momentum
Although Bitcoin has performed relatively better than many traditional assets since the start of the conflict, it has struggled to sustain upward momentum.
Losses over the weekend erased a significant portion of its gains accumulated earlier in March, highlighting the fragile market environment.
Ongoing geopolitical uncertainty and rising oil prices have reduced investor appetite for risk assets, including cryptocurrencies.
Additionally, concerns that central banks may adopt more hawkish monetary policies to combat inflation could further weigh on speculative assets like Bitcoin.
Strategy May Pause Bitcoin Buying Streak
Strategy Inc., the largest corporate holder of Bitcoin, may have paused its regular accumulation last week, according to reports.
Executive Chairman Michael Saylor, who typically signals purchases on social media, did not indicate any new buying activity. Instead, recent communication focused on the company’s preferred equity offerings.
If confirmed, this would mark the first pause in 13 weeks, during which the company accumulated approximately 90,831 Bitcoin.
Altcoins Follow Bitcoin Higher, but Sentiment Remains Weak
The broader cryptocurrency market also moved higher on Monday, although overall sentiment remained cautious.
Ethereum (ETH) rose 2% to $2,045, while XRP gained 1.5% to $1.35.
Other major altcoins such as Solana, Cardano, and BNB posted smaller gains ranging between 0.4% and 1.3%.
Among meme coins, Dogecoin increased 1.8%, while $TRUMP token advanced 1.9%.
Despite these gains, the crypto market continues to face pressure from macroeconomic uncertainty and reduced risk appetite.
