BTC surges 5% to $71,000 as Trump postpones Iran escalation

Crypto prices have surged on Monday on news that U.S. President Trump said to escalate attacks against Iran.

Trump said in a Truth Social post that the two countries held “very good and productive conversations regarding a complete and total resolution of our hostilities in the Middle East.”

Attacks against Iran’s infrastructure will be postponed for a five day period, Trump said in the post.

Bitcoin BTC$68,358.29 rebounded almost 5% above $71,000 in the early morning U.S. hours on the news after sinking below $68,000 overnight. Ether (ETH), DOGE$0.09045, solana (SOL and Chainlink LINK$8.6549 were up 5% over the past 24 hours as cryptocurrencies jumped across the board

Gold has nearly erased almost all its earlier losses, now down just 1% on the day and rebounding to $4,440 per ounce. The U.S. dollar index, DXY, has slipped to 99.3.

Bond yields have declined globally, with the U.S. 10 year yield falling by 100 basis points to 4.3%.

Meanwhile, WTI crude is down 11% on the day, trading below $88 per barrel, while Brent crude has dropped 8% to around $100 per barrel. Tokenized Brent crude futures saw $62.4 million in liquidations on Hyperliquid. CoinGlass data shows $62.41 million in liquidations on the XYZ:BRENTOIL contract over the past 24 hours, with $61.69 million of that hitting longs and just $717,000 from shorts.

Galaxy Digital (GLXY) is up 2%, while Coinbase (COIN) and IREN (IREN) have also gained around 2% each.

Trump’s five-day postponement doesn’t end the war, however, as Iran continues to strike targets across the Gulf.
Meanwhile, Strategy (MSTR), the largest corporate holder of bitcoin, is up more than 3% in pre-market trading.