Bitcoin Edges Higher as Trump Signals Possible Iran Deal
Bitcoin moved slightly higher on Monday following a quiet Asian trading session, supported by improved sentiment after President Donald Trump stated that the United States is engaged in “serious discussions” with Iran’s new leadership.
Trump added that a deal is “probably” close, while also warning of potential escalation if the Strait of Hormuz is not reopened.
Bitcoin Holds Below $70K as Caution Persists
Despite the modest gains, Bitcoin remained below the key $70,000 level, reflecting continued investor caution. Regulatory uncertainty in the United States also weighed on market sentiment.
By 10:05 ET (14:05 GMT), Bitcoin had risen 1.5% to $67,572, showing resilience but lacking strong upward momentum.
Iran Conflict in Focus After Houthi Attacks
Markets remain focused on developments in the Iran conflict, particularly after Iran-backed Houthi forces launched missiles at Israel over the weekend.
The involvement of the Houthis raises the risk of further escalation, as the group has the capability to disrupt key shipping routes in the Red Sea.
At the same time, Trump suggested that negotiations with Iran are progressing and that a potential ceasefire could be approaching, although no clear timeline has been provided.
Strait of Hormuz Developments Add to Market Uncertainty
Trump also noted that Iran had allowed 20 oil tankers to pass through the Strait of Hormuz, describing it as a concession to the United States.
However, Tehran continues to deny direct negotiations with Washington. Over the weekend, Iranian officials accused the U.S. of preparing for a possible ground invasion following the deployment of additional American troops to the region.
Geopolitical Risks Continue to Pressure Crypto Markets
While Bitcoin has performed relatively better than many traditional assets since the start of the Iran conflict, it has struggled to sustain a strong rally. Recent losses over the weekend erased much of its gains from earlier in March.
Ongoing geopolitical tensions and rising oil prices have dampened investor appetite for risk assets. Concerns that central banks may adopt a more hawkish stance to counter inflation are also weighing on cryptocurrencies.
Strategy May Pause Bitcoin Buying Streak
Strategy Inc (NASDAQ: MSTR), the largest corporate holder of Bitcoin, may have paused its recent buying activity.
According to reports, Executive Chair Michael Saylor did not signal a new Bitcoin purchase over the weekend, potentially ending a 13-week accumulation streak during which the company acquired over 90,000 Bitcoin.
Instead, Saylor highlighted the company’s preferred equity offerings, suggesting a possible shift in short-term focus.
Altcoins Follow Bitcoin Higher but Sentiment Remains Fragile
The broader crypto market also moved higher on Monday, although overall sentiment remains cautious.
Ethereum rose 3.6% to $2,058.57, while XRP gained 1.4% to $1.34. Other major cryptocurrencies, including Solana, Cardano, and BNB, posted gains ranging from 1% to 3.5%.
Among meme coins, Dogecoin increased by 3%, while the $TRUMP token climbed 4%.
