Bitcoin began the week with a notable rise, surpassing $71,000, before pulling back, highlighting the market’s heightened responsiveness to geopolitical tensions between the U.S. and Iran. The leading cryptocurrency dipped below $68,000 over the weekend, causing unease among investors as markets processed mixed signals regarding peace negotiations in the Middle East. Monday’s spike followed the announcement from U.S. President Donald Trump regarding a five-day delay in planned strikes on Iranian power plants. He referenced “very good and productive” discussions with Tehran aimed at achieving a “complete and total resolution” of hostilities. Just moments after the announcement,
Bitcoin surged to an intraday peak of $71,811, as reported, before retracting to approximately $70,000. The rally momentarily erased approximately $791 million in leveraged crypto positions, resulting in the liquidation of $425 million in long positions. The momentum proved to be fleeting. Iran’s Foreign Ministry, through state media, refuted the notion that any discussions took place in the manner Trump outlined. “We are not the party that started this war, and all these requests should be referred to Washington,” the ministry stated, highlighting the ongoing ambiguity surrounding the conflict. The market’s response showcased the mixed signals, as volatility took center stage in early-week trading. Despite the volatility, BTC continues to show resilience over the long term.
Since February 28, following U.S.-Israeli airstrikes that prompted retaliatory Iranian attacks and the closure of the Strait of Hormuz, Bitcoin has surged approximately 7%, surpassing the performance of the S&P 500 (-4.6%) and gold (-17%). Gold is presently valued at approximately $4,428. Experts link this impressive performance to multiple phases of market deleveraging that have occurred since October 2025, the month when BTC reached its all-time high of $126,080. This week’s volatility was intensified by wider market dynamics.
On Monday, U.S. 10-year Treasury yields surged to 4.36%, driven by inflation worries intensified by rising oil prices. Brent crude, which surged past $107 per barrel following February’s closure of the Strait of Hormuz, experienced a decline of 8% on Monday. This movement underscores the complex relationship between oil markets, inflation expectations, and risk assets like BTC. Bitcoin is currently trapped within a symmetrical triangle on the daily chart, indicating a phase of consolidation. A sustained close above $75,000 this week could pave the way for further gains toward $85,000 and $90,000. Conversely, a breakdown below $67,000 would reopen the path to retest recent lows, according to source.