"Bitcoin jumped to an intraday high of $71,811, according to Bitcoin Magazine Pro, before easing back to around $70,000. The rally briefly wiped out roughly $791 million in leveraged crypto positions, with $425 million in long positions liquidated."
"Iran's Foreign Ministry, via state media, denied that any talks had occurred in the form Trump described. 'We are not the party that started this war, and all these requests should be referred to Washington,' the ministry said, underscoring the continued uncertainty surrounding the conflict."
"Since February 28, when U.S.-Israeli airstrikes triggered retaliatory Iranian attacks and the closure of the Strait of Hormuz, Bitcoin has risen roughly 7%, outperforming the S&P 500 (-4.6%) and gold (-17%)."
"U.S. 10-year Treasury yields climbed to 4.36% on Monday, reflecting inflation concerns exacerbated by higher oil prices."
Bitcoin experienced a surge above $71,000 before retracing, influenced by geopolitical developments between the U.S. and Iran. The cryptocurrency traded below $68,000 over the weekend, causing investor anxiety. A spike followed U.S. President Trump's announcement of a postponement of strikes on Iran, leading to an intraday high of $71,811. However, Iran's Foreign Ministry denied the talks, resulting in market volatility. Despite this, Bitcoin has risen approximately 7% since February 28, outperforming the S&P 500 and gold, attributed to market deleveraging and broader economic factors.
Read at Bitcoin Magazine
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