Crypto markets advanced after U.S. President Donald Trump announced a five-day delay on planned strikes against Iranian energy infrastructure, though traders say the sustainability of the move will depend on how geopolitical tensions evolve.
Bitcoin held above the $70,000 mark after an earlier surge, with its near-term outlook now closely linked to developments between the U.S. and Iran. Trump’s comments, highlighting “productive” discussions, helped lift sentiment across digital assets and broader risk markets.
While Iranian officials later denied that any talks were taking place, markets largely shrugged off the discrepancy, keeping crypto prices supported throughout the session.
Bitcoin was last trading just below $71,000, up around 3.8% over the past 24 hours. Altcoins outpaced the move, with ether, solana and dogecoin each gaining करीब 5%.
Crypto-related equities also rallied, led by bitcoin miners, which have increasingly moved in tandem with AI infrastructure plays. Hut 8 jumped more than 11%, while Bitfarms, Cipher Mining, CleanSpark, Riot Platforms and TeraWulf gained between 6% and 7%.
Broader markets followed suit, with the S&P 500 and Nasdaq both closing about 1.2% higher.
Still, traders are approaching the rally with caution. Jasper de Maere of Wintermute noted that while the macro backdrop has improved, the extent of further upside will depend on how the situation develops over the coming days.
If oil prices stabilize and shipping flows through the Strait of Hormuz normalize, easing inflation pressures could bring rate-cut expectations back into focus, supporting risk assets. In that case, bitcoin could attempt another move toward the $74,000–$76,000 range, which has capped recent rallies.
On the flip side, a deterioration in relations or renewed disruptions to energy supply could push oil higher again, reinforce inflation concerns and trigger a broader risk-off shift—potentially dragging bitcoin back toward the mid-$60,000 range.
