Bitcoin Surges Past $70,000. Cryptos Lifted as Trump Delays Strikes on Iran. — Barrons.com
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By Alex Kozul-Wright
The price of Bitcoin was climbing Monday morning after President Donald Trump said the U.S. would halt attacks on critical Iranian infrastructure following talks between the countries.
Bitcoin popped 2.1% to $70,029 over the past 24 hours, according to CoinDesk data. Elsewhere, Ethereum and alt-coin XRP were also trading up — by 1.8% and 1%, respectively.
It looks like a short-term relief rally as the prospective de-escalation in geopolitical tensions makes risk-on assets, such as crypto, attractive again.
Earlier in the session, major cryptocurrency prices were trending down following renewed threats from the U.S. and Iran over the weekend, which had bruised financial markets.
But Bitcoin and others flipped from red to green following an early morning Truth Social post from Trump. "I AM PLEASED TO REPORT THAT THE UNITED STATES OF AMERICA, AND THE COUNTRY OF IRAN, HAVE HAD, OVER THE LAST TWO DAYS, VERY GOOD AND PRODUCTIVE CONVERSATIONS REGARDING A COMPLETE AND TOTAL RESOLUTION OF OUR HOSTILITIES IN THE MIDDLE EAST," he wrote.
Trump also said he had instructed the Department of War to postpone military strikes against Iranian power plants and energy infrastructure for a five-day period, subject to ongoing discussions.
While international oil benchmarks dropped on the news, stock futures were rising. Dow futures climbed by 1.5%, while S&P 500 futures rose 1.4%.
Write to Alex Kozul-Wright at alexander.kozul-wright@barrons.com
This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.
source: https://www.tradingview.com/news/DJN_DN20260323001175:0/
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