Crypto markets pushed higher after U.S. President Donald Trump announced a five-day delay on strikes targeting Iranian energy infrastructure, though traders say the rally’s durability will depend on how tensions between Washington and Tehran evolve.
Bitcoin maintained its footing above $70,000 following an early surge, with its near-term trajectory now closely linked to geopolitical developments. Trump’s remarks, which pointed to “productive” discussions, helped lift sentiment across digital assets and broader risk markets.
Tehran later rejected claims that talks were underway, but the denial did little to shake market confidence, with crypto prices holding firm throughout the session.
Bitcoin was last trading just below $71,000, up around 3.8% over the past 24 hours. Altcoins led the advance, with ether, solana and dogecoin each rising करीब 5%.
Crypto-related equities also rallied, led by bitcoin miners that have increasingly moved in tandem with AI infrastructure names. Hut 8 jumped more than 11%, while Bitfarms, Cipher Mining, CleanSpark, Riot Platforms and TeraWulf advanced roughly 6%–7%.
Equities followed suit, with the S&P 500 and Nasdaq both closing about 1.2% higher on the day.
Still, market participants are wary of chasing the move. Jasper de Maere of Wintermute said the macro backdrop has shifted, but the extent of any upside will depend on developments over the coming days.
If crude prices stabilize and shipping flows through the Strait of Hormuz normalize, easing inflation pressures could bring rate-cut expectations back into focus, supporting further upside in crypto. In that case, bitcoin could attempt another move toward the $74,000–$76,000 range, which has capped recent rallies.
Conversely, a deterioration in the situation or renewed disruption to energy supply could push oil prices higher, reinforce inflation concerns and trigger a broader risk-off move—potentially dragging bitcoin back toward the mid-$60,000 range.
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