Bitcoin (BTC) jumped back above $70,000 on Monday after U.S. President Donald Trump said the United States and Iran had held “very good and productive conversations” toward resolving hostilities in the Middle East, signaling a potential near-term de-escalation in geopolitical tensions.
The leading cryptocurrency rose 4.4% from around $68,500 to nearly $71,500 following the announcement and was last trading around $70,700, per The Block’s BTC price page. Ethereum (ETH) also moved higher, climbing 7.2% from around $2,048 to $2,196, and currently holding near $2,160, reflecting a broader bounce across digital assets.
In a post on Truth Social, Trump said discussions between the two countries had been “in depth, detailed, and constructive” and would continue throughout the week. He added that he had instructed the “Department of War to postpone any and all military strikes against Iranian power plants and energy infrastructure for a five day period,” contingent on progress in ongoing talks.
Markets driven by geopolitical risk and rate repricing
The rebound comes against a highly fragile macro backdrop, with markets oscillating between escalation fears and hopes of de-escalation. Earlier rhetoric around potential U.S. strikes on Iranian power plants and retaliatory threats targeting energy infrastructure had pushed markets into a risk-off posture, with investors bracing for a possible disruption to global energy supply via the Strait of Hormuz.
That uncertainty has already begun reshaping broader financial markets. Analysts note that Treasury volatility has surged as traders rapidly repriced interest rate expectations, even briefly implying the possibility of rate hikes this year, while the U.S. dollar strengthened and equities came under pressure as liquidity tightened. Gold also sold off sharply amid rising yields and a stronger dollar.
Within crypto, the macro backdrop is also dominating price action. Timothy Misir, head of research at BRN, said markets are trading “one theme above all others: geopolitical inflation,” with bitcoin likely to remain rangebound and highly sensitive to energy prices and real yields. He added that upside could be driven by short squeezes, but warned that weak underlying demand may limit follow-through.
Meanwhile, Nic Puckrin, co-founder of Coin Bureau, said recent market moves suggest that “when push comes to shove, [bitcoin is] ultimately still a risk-on asset, not a geopolitical hedge,” warning that further downside remains possible amid ongoing conflict and tightening financial conditions.
© 2026 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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