Cryptocurrency markets gained on Monday as geopolitical tensions and key U.S. economic data loomed. The global crypto market cap rose to approximately $2.45 trillion, with Bitcoin surpassing $69,000. Investors are monitoring an extended U.S. deadline for Iran and a week packed with inflation reports and Federal Reserve insights, which could drive significant volatility.
Crypto markets are up this Monday morning following an extended geopolitical deadline. President Trump told Fox News on Sunday he will “blow everything up” if Iran does not make a deal by Tuesday, observed the Kobeissi Letter.
The week is packed with economic events that could rattle markets. Tuesday features the latest geopolitical deadline, while Wednesday brings Federal Reserve meeting minutes.
Key inflation data is scheduled for release later in the week. Thursday includes the February PCE inflation report and the third estimate of fourth-quarter GDP.
The March CPI inflation report arrives on Friday alongside consumer sentiment data. “The upcoming CPI reading for March will show the initial impact of soaring energy markets,” AJ Bell analysts said in a note.
Markets gained around 2.4% over 24 hours, hitting a nearly two-week high. Bitcoin led the charge, reclaiming the $69,000 level after a weekend below $67,000.
Ether prices also recovered, moving back above $2,100 on Monday. Both major assets remain within constrained trading ranges facing significant resistance.
A de-escalation in the Middle East could provide a boost for crypto markets. However, renewed inflationary pressures continue to weigh on high-risk asset investing.
