Bitcoin’s price surged to $69,600 on Monday morning following reports of potential Middle East peace talks. According to an Axios report, the US and Iran are discussing a 45-day ceasefire that could lead to a permanent end to the war. These negotiations are described as a last-ditch effort to prevent massive strikes on Iranian infrastructure, which had been threatened by former President Trump.
Bitcoin experienced a sudden increase in volatility after a quiet weekend, jumping to a multi-day peak of $69,600. This price movement coincided with a report detailing potential ceasefire discussions between the US and Iran.
The news, cited by The Kobeissi Letter, outlined a proposed two-phased deal involving a 45-day truce. This period would be used to negotiate a complete end to the conflict, described as a “last-ditch effort” to prevent “massive strikes on Iranian civilian infrastructure.”
Former President Trump had issued warnings to Iran, demanding the reopening of the Strait of Hormuz. He stated that Tuesday would be “Power Plant and Bridge Day,” indicating potential targets for US strikes if his demands were not met.
Sources noted that Trump had presented several proposals to Iran in recent days, which remained unacceptable to the government. The chances of reaching even a partial deal before the extended Tuesday deadline were described as “slim” by people familiar with the matter.
Financial markets reacted immediately to the geopolitical developments. Wall Street futures initially opened lower but quickly erased those losses following the report.
The impact on Bitcoin was pronounced, with the asset rising over $2,000 from its weekend position around $67,000. This marked a swift reversal from the uneventful trading period that preceded the news.
